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

The best thing that can be done is to get more supply. If we want to get energy prices down we have to get more supply of gas, electricity, or whatever the particular target may be, and that's what I'm focused on as resources minister to increase supply of these resources. That is why the federal government has supported the development of the Beetaloo Basin with an $8.4 million investment to help facilitate the approvals and ongoing works there in that region, that's something we announced in the last few months.

We have also signed a memorandum of understanding with the Northern Territory government to make sure we work together in the development of this resource for the benefit of Australia. In particular, we would love to see the development not just of a oil and gas industry onshore in the Northern Territory, but also the use of that oil and gas in places like Darwin where there's enormous potential to grow a manufacturing industry, with the fantastic Asian-facing port they have there in the Northern Territory. It's a very exciting development and the federal government is working in lock step with Northern Territorians to see development in their interests.