Gas-Rich Australian Region Backs $28 Billion Data Center Project

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessGas-Rich Australian Region Backs $28 Billion Data Center ProjectAustralia’s Northern Territory has granted land to a major data center project that claims it could attract A$40 billion ($28 billion) in private investment.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.a1(nzvkqw)o]ms2gg7uc}k0o_media_dl_1.png Bloomberg(Bloomberg) — Australia’s Northern Territory has granted land to a major data center project that claims it could attract A$40 billion ($28 billion) in private investment.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe region’s government awarded 185 hectares (457 acres) of land to Beetaloo Digital Pty Ltd., a unit of natural gas company Beetaloo Energy Australia Ltd., to develop two “hyper-scale” AI data center campuses, it said in a statement Wednesday. The company plans to build up to 2 gigawatts of power generation for the sites, using fuel from a massive shale gas deposit that is set to start commercial production this year. The artificial intelligence boom is threatening to strain grids and water resources around the world. Power demand from data centers is poised to surge in Australia over the next quarter-century, risking an increase in emissions from electricity generation after years of declines.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againBeetaloo Energy shares jumped as much as 20% in Sydney. The company is in talks with potential partners to develop the greenfield site, which is near Darwin’s existing subsea cables that offer hyperscale operators direct links to markets in the Asia-Pacific region, it said in a regulatory filing. “Data center proponents are looking to the Territory because of the promise of reliable and affordable Beetaloo gas-to-power supported by renewables, and because of how close and connected we are to major Asian markets and digital superpowers,” Chief Minister Lia Finocchiaro said in the government statement.Hydraulic fracturing in the Beetaloo Basin could boost Australia’s emissions by as much as 20%, and the impacts of data centers and fracking on the region’s climate and scarce water supplies need to be considered, Environment Centre NT said. “The Northern Territory is forecast to become unlivable due to climate change within a couple of generations, yet new data shows the Territory’s annual greenhouse gas emissions are skyrocketing,” the group said in a statement.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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