Sam McMahon (NT, Country Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Resources, Water and Northern Australia, Senator Ruston. Minister, I recently travelled to the Beetaloo Basin in the Northern Territory. The region is certainly buzzing with activity. It is definitely an exciting time to be a Territorian. The Beetaloo presents a once-in-a-generation opportunity for job creation and economic growth. Can the minister update the Senate on the Morrison-McCormack government's plan to develop new untapped gas resources, like the Beetaloo Basin, which will fuel new manufacturing ventures across the Northern Territory and help our national economy emerge from COVID-19?

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

The Morrison government is a very strong supporter of the resources industry. As Senator McMahon knows, the resources and energy sector plays a critical role in creating jobs and investment in regional Australia, particularly in her home territory of the Northern Territory. The sector has always been a key pillar of Australia's economic prosperity. It is one of the largest employers and it employs the highest proportion of Indigenous Australians—3.8 per cent compared to 1.7 per cent for all other industries. The sector will also be crucial for Australia's recovery from the COVID pandemic. Recent figures have confirmed the strength of the sector. It generated $290 billion in exports in 2019-20, despite the very challenging operating environment we all found ourselves in over the last year.

Our government is absolutely committed to working with the sector to bring on the next wave of investment in new oil and gas developments. In fact, the Prime Minister said very recently, 'Central to our agenda is getting access to our domestic gas supplies.' We're absolutely committed to remaining a top LNG gas exporter and that's why we are investing in a gas-fired recovery as part of our JobMaker plan. Our investment of $52.9 million in the 2020-21 budget focuses on three very specific key areas of the gas supply chain: $10.9 million for the Gas Infrastructure Plan; $28.3 million for five strategic basin plans to unlock new gas potential, starting with the Beetaloo Basin; and $13.7 million to extend the CSIRO's Gas Industry Social and Environmental Research Alliance. We want affordable gas for manufacturers, businesses and households. We want Australian gas to work for all Australians.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator McMahon, a supplementary question?

Sam McMahon (NT, Country Liberal Party) Share this | Link to this | Hansard source

Can the minister update the Senate on how the continued development of our abundant gas resources is helping to build new industries and create new jobs across regional and rural Australia, particularly across the Northern Territory?

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

Senator McMahon, to encourage investment in gas developments and unlock additional supply our Morrison-McCormack government will set new gas supply targets with the states and territories, will enforce a use-it-or-lose-it requirement on gas licences and will deliver five new strategic basin plans to unlock that gas potential. The government's strategic basin plan for Beetaloo will accelerate the exploration and development of that basin.

The Beetaloo Basin has the potential to be a new world-class shale gas province. With an estimated 178,000 petajoules of shale gas it is larger than any other known gas resource off the North West Shelf. Economic modelling suggests that the development of the gas resource in the Beetaloo Basin could contribute upwards of 6,000 jobs for Australians and $36.8 billion in GDP by 2040.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator McMahon, a final supplementary question?

Sam McMahon (NT, Country Liberal Party) Share this | Link to this | Hansard source

Is the minister aware of any risks to the coalition government's approach in securing a gas-fired recovery in the Northern Territory?

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

The Morrison-McCormack government is absolutely unashamedly vocal in its support of our resource sector and our energy sector. A gas led recovery is central to our budget and the nation's economic recovery. The actions taken by our government have assisted in lowering gas prices and ensuring supply to manufacturers, industry and households. We're a government that delivers on our commitments.

We are delighted that the ALP government in the Northern Territory has actually signalled its intent to support downstream industries through the gas development strategy. Unfortunately, not everyone in this parliament has the same commitment to that development. Labor claim they support jobs in the resources sector, but the party is completely divided on that. It's more interested in inner city votes and jobs than in the economic development of rural and regional Australia, an area that I know, Senator McMahon, you are absolutely passionate about supporting.