The government has received 14 expressions of interest from companies after it put out the feelers for proposals last month for both existing routes already flagged by government or any other route that industry would like to suggest linking the NT and NSW gas grids.

Expressions of interest closed on Monday, with NT Chief Minister Adam Giles saying there was "no time to waste" on the project. An assessment panel will be convened this week to start the process of shortlisting proponents.

The NT is estimated to have over 200 trillion cubic feet of gas resources in six onshore basins and 30Tcf of offshore gas reserves, much of it inaccessible. The pipeline aims to fix that, along with provide economic opportunities for the Territory.

"By creating new market access for NT gas, the pipeline has the potential to unlock investment capital and increase the level of exploration and development across the Territory," Giles said.

The pipeline project will also generate substantial economic activity and employment during the construction phase and long term operational phase.

"Much of this employment will be generated in regional areas of the Territory where jobs are needed most," Giles said

"The Territory has a growing reputation as a gas hub with most of the services required to plan, construct, own and operate significant pipelines already available here. This is a huge opportunity to expand that reputation further."

Deloitte Access Economic Business Outlook forecasts NT's economy to expand by around 20% over the next five years. Over the same period, the NT workforce is expected to experience strong employment growth, creating new opportunities for existing businesses and people entering the workforce.

The NT government also launched an updated investment guide in English, Japanese, Chinese and Bahasa-Indonesian on Monday to encourage local, interstate and international companies to invest in the Territory across energy, mining, infrastructure and agriculture.