NT Lifts Fracking Ban

Australia's Northern Territory government said on Tuesday it would allow gas extraction via fracking, ending a moratorium it imposed two years ago.

Reversing of the fracking ban, which had been in place in NT for almost two years, will now open up more than half of its territory for oil and gas exploration and production.

The issue has sharply divided territorians, many of whom believe fracking threatens water supplies, but the chief minister, Michael Gunner, said on Tuesday the industry would create jobs.

He revealed that the NT government has accepted an important finding of the report which says that the risk from fracking can be brought down to an acceptable level if all the recommendations are implemented.

"The moratorium on fracking in the Northern Territory will be lifted, with strict new laws to be in place before exploration or production can occur", he said, adding that 49 percent of the Territory will remain "frack-free", including national parks and reserves.

Falcon is partnered with Australian gas major Origin Energy and, in today's statement, it said that work will resume as soon as practical.

The Northern Territory, a 1.4 million sq km (540,000 sq miles) expanse of outback extending from the center of Australia to its northern coastline, has had a moratorium on fracking since September 2016 to study the environmental, social and economic risks of the source of cheap gas.