Federal government’s $200m regional fuel security strategy kicks off, with NT expected to feature prominently

THE federal government’s plan to increase onshore diesel stockholdings and protect the nation’s fuel supply is stepping up a notch, with applications opening Monday to be a part of the $200m program, which the Top End is expected to feature prominently in.

The Boosting Australia’s Diesel Storage Program is a key part of the Morrison government’s fuel security package to secure Australia’s long-term fuel supply and bolster local industry.

Federal Energy and Emissions Reduction Minister Angus Taylor said the government wanted to target projects that enhanced fuel security by being in a strategic regional location or that were connected to existing fuel infrastructure.

The US military has already flagged plans to build a big fuel storage in the Darwin region and an aviation fuel farm, containing at least six million litres of reserve fuel, has already been funded as part of the Tindal RAAF Base upgrades.

Through the Boosting Australia’s Diesel Storage Program, up to $200m in competitive grants will be provided over three years to support the construction of an additional 780 megalitres of onshore diesel storage.

“Successful projects will receive grants of up to $33.3m, with the federal government covering up to 50 per cent of total eligible project expenditure,” Mr Taylor said.

Projects are expected to start construction this year and be completed within three years.

Extracted from NT News

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