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Zero return : government savaged over taxpayer grants to open up new gas basin in Australia Adam Morton and Ben Butler © Provided by The Guardian Photograph: Bloomberg/Bloomberg via Getty Images The Morrison government has been accused of embarking on an “expensive plan for a climate catastrophe” after it announced it would pay the gas industry up to $50m to speed up exploration in the Northern Territory. The commitment, revealed on Thursday, also prompted warnings that taxpayers’ money could flow offshore to companies linked to tax havens and a Russian oligarch. Keith Pitt, the federal minister for resources, water and northern Australia, said the government would offer grants to accelerate exploration and development in the NT’s Beetaloo basin, which lies south of Katherine and has been estimated to hold more than 200,000 petajoules of gas.

Northern territoryUnited statesFrance generalUnited kingdomClancy mooreJosh frydenbergBruce robertsonViktor vekselbergKeith pittScott morrisonRod campbellLucy manneInstitute for energy economicsFalcon oil gasSweetpea petroleumAustralia institute