We are taking action to demand that the CEO and the Board of ANZ rule out funding the North to East Australia Pipeline.

The Australian company APA Group is seeking funding to build the North to East Australia Pipeline (NEAP), enabling Beetaloo frackers to offload their gas. ANZ is the only Australian big four bank that has not ruled out funding the pipeline. If none of Australia's big four banks invest in the pipeline, it will make it less likely that international investors will do so.

It is critical that we stop ANZ Bank from funding the NEAP. If we stop ANZ funding the NEAP, we put a significant roadblock in front of Beetaloo fracking, and we might just be able to stop Beetaloo!

What is the NEAP?

If fracked, the 24,000 square kilometre Beetaloo Basin in the NT would be Australia’s (and one of the world’s) largest and highest-emitting gas fields ever. There are some exploratory shale gas fracking wells already in place in the Beetaloo Basin, but the 1580 km North to East Australia Pipeline is key to expanding the fracking of the Beetaloo Basin.  If expanded, Beetaloo becomes a full-scale climate bomb: producing more than 1 billion tonnes of CO2 equivalent emissions. The NEAP would link to an existing pipeline going to the East Coast and to the Gladstone export port. Without this pipeline, the scale Beetaloo fracking projects would be massively reduced. ANZ has not ruled out funding for the NEAP.

Fracking the Beetaloo Basin is expensive for our pockets and for our climate

The majority of the gas in the pipeline will be exported. Because of the remote location, large-scale fracking will be expensive. That means the gas will be expensive, which is not good for Australian businesses and households. 

Regardless of where the fossil gas is burned, fracking the Beetaloo Basin is not compatible with a safe climate and the goals of the Paris Agreement. Full scale fracking of the Beetaloo Basin will contribute to catastrophic levels of warming

Our large, diverse movement will not stop until ANZ rules out funding the NEAP.  We are taking action around Australia and we won’t stop until ANZ rules out funding the NEAP. 

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