Australia’s Northern Territory courts Korean investment in gas, AI

Australia's Northern Territory is courting Korean investment in shale gas, critical minerals and AI data centers, with more than 160 business leaders from 12 countries attending the second Northern Territory Investment Summit in Darwin on July 15. Representatives from SK Innovation E&S, Posco and Samsung C&T explored potential partnerships, as the Territory seeks to leverage its Beetaloo Sub-basin gas reserves and proximity to Asia. Northern Territory Treasurer Bill Yan said the region can power Australia for the next 200 years, while Minister Robyn Cahill confirmed talks with Korean conglomerates on AI data center projects but declined to provide details due to nondisclosure agreements.

Vast shale gas reserves and proximity to Asia boost the Territory’s strategic appeal DARWIN, Australia — Australia’s Northern Territory is courting Korean investment in shale gas, critical minerals and AI data centers, seeking to leverage its natural resources and proximity to Asia as a new growth engine. More than 160 business leaders and investors from 12 countries gathered in Darwin, Australia, on July 15 for the second Northern Territory Investment Summit. Representatives from SK Innovation E&S, Posco and Samsung C&T attended to explore potential partnerships. Central to the Territory’s pitch is the Beetaloo Sub-basin, which developers say could become one of the world’s largest gas-only fields outside Russia and the Middle East. Industry executives argue that its scale could help Australia replicate the US shale boom, which sharply increased gas supply, lowered energy costs and attracted manufacturing. Investment commitments in Beetaloo are expected to jump from about 300 million Australian dollars $210 million in 2025 to more than AU$1 billion over the coming years through capital raising, farm-in agreements and operator spending. “The Northern Territory has everything this country needs as far as energy and resources go,” said Bill Yan, Northern Territory treasurer and minister for logistics and infrastructure. “We can power Australia for the next 200 years.” Tamboran Resources CEO Todd Abbott said Australia’s regulatory stability, safety record and proximity to Asia give the region an advantage as Asian economies seek more secure energy supplies. The Northern Territory is also seeking Korean investment in AI data centers as Australia moves to strengthen its sovereign AI capabilities. Robyn Cahill, Northern Territory minister for trade, business and Asian relations, said the region offers gas-fired power, abundant cooling water and more than 1.4 million square kilometers of land — advantages over crowded eastern cities facing high land, water and electricity costs. Asked whether the Territory was discussing data center projects with Korean conglomerates such as Samsung and SK, Cahill confirmed talks were underway but declined to provide details, citing nondisclosure agreements. hyejin2@heraldcorp.com