Anne Ruston (SA, Liberal Party, Minister for Families and Social Services) Share this | Hansard source

I thank Senator McMahon for her question and her deep interest in all things resources, particularly in her home territory of the Northern Territory.

Everybody understands that cheaper and more reliable energy is going to be absolutely fundamental to the economic recovery of Australia as we recover from the COVID pandemic. It's going to be particularly important for our JobMaker plan, as we get Australians back into work and fuelling our economy. Our gas-fired recovery is absolutely essential, and we'll be supported by the reset of the east coast gas market. We'll do this by unblocking gas supply, delivering efficient transportation and empowering customers to make sure that we are providing the best possible energy source for Australia.

Last month the coalition announced a new heads of agreement with the three East Coast LNG exporters operating out of Gladstone. This means all uncontracted gas produced by the LNG projects will now be offered to the domestic market at internationally competitive prices before it is offered into the international market. This agreement, alongside the Australian Domestic Gas Supply Security Mechanism, will continue to put downward pressure on the price of gas to ensure more gas is offered in the domestic market at a more affordable and competitive rate.

Simply put: what we've done will push down the prices as a result of increasing supply. That means Australian businesses and Australian families will have the affordable and reliable gas that they need. It's about making sure that Australian gas works for Australians whilst supporting economic growth and backing the very, very important regional jobs that are on the back of this very important sector.

More supply has brought more competition and lower prices, and it will support our manufacturing sector. At the same time we will support Australia's pursuit of reducing emissions. Gas is absolutely critical for manufacture—