House debates

Tuesday, 22 June 2021

Regulations and Determinations

Beetaloo Cooperative Drilling Program; Disallowance

4:58 pm

Photo of Keith PittKeith Pitt (Hinkler, National Party, Minister for Resources, Water and Northern Australia) Share this | Hansard source

I acknowledge the contributions of those on the crossbench but also note that they represent areas like the inner city Sydney beaches, inner city Melbourne and, of course, regional Victoria. I think that the individuals who live in those areas would probably notice if the gas were removed and turned off, and I don't see how those on the crossbench can say to the people of northern Australia and the Northern Territory, 'You can't have a job.' That is what this is about.

The Beetaloo Basin has the potential to create some 6,000 jobs by 2040. It has the potential to transform the Northern Territory economy. It has the potential to supply gas into the domestic market in Australia for decades. This is an incredibly important project. It is a key part of our gas-fired recovery and, as the Prime Minister has said, what is central to our agenda is getting access to our domestic gas supplies. We need to get gas from under our feet. So we're investing in key areas across the gas supply chain to unlock that supply, to deliver efficient transportation and to empower consumers. This is because we are a government that delivers. The strategic basin plan program is a key plank of our plan to bring on that new gas supply to help address that domestic shortfall, to manage prices and to re-establish a strong economy.

On 14 January the government released Unlocking the Beetaloo: The Beetaloo Strategic Basin Plan to accelerate exploration and development in the Beetaloo Sub-basin. We have provided $224 million for drilling and road infrastructure projects. The Beetaloo Sub-basin is potentially one of the largest undeveloped onshore gas resources in the world. It is a new world-class gas province with an estimated 200,000 petajoules or more of gas. Very conservatively, if 10 per cent of this gas proves to be commercial it could supply all of the east coast demand for over 30 years—over 30 years! So we will continue to work closely with the Northern Territory government and local industry in the Beetaloo to build the necessary infrastructure. That includes $173.6 million of Commonwealth funding for the Northern Territory Gas Industry Roads Upgrade program under Roads of Strategic Importance. Just that alone is expected to provide support for over 400 jobs.

We will get on with delivering more efficient and effective regulatory processes, including enhanced regulator capability, and we will reduce regulatory duplications. And, of course, we will work with local communities. The Beetaloo Cooperative Drilling Program has been considered carefully. It's a key plank of our plan to bring on new gas supply and is designed to address domestic shortfall, maintain affordability and continue to grow a strong economy.

In conclusion, the best way to ensure a long-term gas supply to support jobs and industry in Australia is to develop new gas basins and new gas resources. The government knows that unlocking gas reserves is key to Australia's economic prosperity and recovery from COVID-19. Only this government can be trusted to bring on new gas, lower the cost of energy, revitalise manufacturing and ensure thousands of jobs in this time of COVID uncertainty.

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