Australian Territory Lifts Fracking Ban in Boost for Shale
- Northern Territory government imposed restrictions in 2016
- Risks can be reduced to acceptable level: chief minister
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Australia’s Northern Territory has ended its ban on hydraulic fracturing, boosting the prospects for energy explorers operating in some of the country’s largest petroleum resources.
The nation is home to the world’s sixth-biggest reserves of shale oil and seventh-largest of shale gas, and the vast, remote Northern Territory remains in the early stages of exploration. The technique, known as fracking, has unlocked a flood of supply from the U.S. since the turn of the century, upending global energy markets.