Initial policy being developed.
That prior to the granting of any further production approvals, the Government designs and implements a full cost recovery system for the regulation of any onshore shale gas industry.
To be completed by end December 2021.
Action item updates
The Department of Treasury and Finance will undertake a comparative analysis of regulatory fees charged in similar jurisdictions to ensure the Northern Territory remains a competitive jurisdiction for exploration expenditure. The department will prepare a discussion paper for consultation on the proposed cost recovery system. Consultation with industry and key stakeholders will inform the final system.
The government will make the required legislative changes.