Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

The Australian Energy Market Operator, in the report that it released last week, identified that, while there is no longer a projected shortfall in the short term, new gas supplies will have to be developed from next year and, further, more contingent gas reserves will have to be produced and bought online from 2021. The key risk to our gas market going forward is if unnecessary barriers to the development of those gas resources around the country remain. It's important that state and territory governments who want to support manufacturing businesses and jobs allow the natural resources in their states and territories to be developed, because, if the resources of Victoria, South Australia or New South Wales are not developed, gas prices will be higher. We know that Bass Strait is declining as a resource; it's becoming more costly. To keep the strong and competitive manufacturing sectors we have in this country, we must develop our natural resources in an appropriate and environmentally sensible way.