Pipeline expected to make Australia an energy hub
POSTED: Friday, May 18, 2012 - 8:30am
UPDATED: Friday, May 18, 2012 - 8:34am
NBC News — Construction is underway on a large natural gas pipeline expected to make Australia's Northern Territory an energy hub for Asian markets. Australian Prime Minister Julia Gillard and other officials were on hand to turn the first shovel full of dirt at the planned liquified natural gas plant friday.
Japanese energy company Inpex and its French partner Total plan to pipe gas into Darwin from the Browse Basin about 560 miles off Western Australia State. It's Japan's largest ever investment in Australia, and the project is estimated to be worth about $33 billion.