I rise today to speak in support of reducing the cost of energy bills and the cost of living, reducing the cost of doing business in Australia and increasing our energy sovereignty and in support of a transition to clean and renewable energy and Australia's goal of net zero by 2050. We have before the parliament an innovative approach and solution to some of these challenges with the Domestic Gas Reservation Bill 2026 and two related bills, the Domestic Gas Reservation (Consequential Amendments) Bill 2026 and the Domestic Gas Reservation Levy Bill 2026. This package of reforms to gas supply delivers on a simple idea: a fair share at a fair price. Australia's gas is an asset which belongs to all Australians. Our government is committed to delivering a nationally consistent domestic gas reservation framework. Gas powers Australian homes and industry and contributes to the reliability of our energy system. Australians expect our national resources to serve our national interest. Australians also expect a reliable supply of affordable gas at home.

For many years, many Australians have been calling for better management of our gas resources in our national interest. The gas market review recommended that fundamental reform of Australia's gas market was needed and recommended establishing a national gas reservation scheme. Extensive consultation has been undertaken since the release of the gas market review in 2025. Gas producers, exporters, peak bodies, manufacturers, unions, state and territory governments and trade partners have engaged in this discussion through formal consultation processes.

The proposed framework informed by this consultation will require exporters of liquefied natural gas to hold an export licence and meet a domestic supply obligation. This will require LNG exporters to contribute up to the equivalent of 20 per cent of their exports to domestic gas markets. The framework does not limit the amount of LNG that may be exported. It instead ensures a reliable and appropriate domestic contribution in the form of gas sold to domestic customers at prices agreed in commercial negotiations between buyers and sellers. An important commitment by our government is that Australia will remain a reliable energy trading partner both now and into the future.

Australia has two distinct domestic gas markets: the east coast gas market, which includes the Northern Territory, and the west coast gas market in Western Australia. Conditions in one market do not necessarily reflect conditions in the other. The bill recognises this physical separation and provides scope for obligations to be calibrated to the supply and demand conditions of each market based on the circumstances at the time. This bill makes reliable domestic natural gas supply a normal and predictable part of LNG export activity. Our government's aim is to strengthen Australia's energy security and improve the predictability of domestic supply in the long-term interests of Australian households and businesses, while providing greater regulatory certainty and maintaining Australia's position as a reliable LNG exporter and trading partner.

Australia's gas export industry ramped up a little over a decade ago. We are now one of the largest exporters of liquefied natural gas to the world. We have an abundant supply, and we need to structure the market to make sure our needs are also met. I'm pleased to say that, as a nation, we have managed to build a strong and growing renewable energy market and our reliance on fossil fuels, especially on coal and gas, has been declining. We are advancing electrification for households and for businesses. This is good for the planet, for household budgets and for our future. But, right now, we still need gas as part of our energy mix, especially for major industries like steelmaking that are critical to our manufacturing and construction needs. We should not be making it impossible for our major industries to access reliable supply and pay their energy bills. Ballooning gas prices are one part of the cost-of-living crisis we are all trying to combat, and there is really no reason for this cost crunch other than a decade of piecemeal reform and missed opportunities for a country that has an abundance of gas.

Australians are facing a cost-of-living crisis, one that the Albanese Labor government did not create but is taking action to control. We have provided important rebates and subsidies. We're providing cheaper medicines, and we have substantially increased the number of fully bulk-billing GP practices so that Australians can put their health needs first. We've made getting a trade qualification easier for many Australians through our free-TAFE initiative. These and other measures are designed to make things easier for Australians both now and into the future. This approach has also informed how we are addressing domestic gas reform. We want to deliver Australians more gas at affordable prices.

In the Illawarra, and relevant to my electorate of Whitlam, is BlueScope, an icon of Australian industry which is woven into the fabric of our community. The Illawarra is the home of steelmaking in New South Wales, with BlueScope in Port Kembla. BlueScope employs thousands of people across the region, is a major income generator for Australia and provides steel products for our nation and the world. But BlueScope has reported, in recent times, losses to their profit margins, and, in their analysis, this is due to the increasing price of gas. BlueScope needs and uses large quantities of energy. BlueScope requires 24/7 power supply. BlueScope understands that we are transitioning to renewables, and it may be well placed to be a world leader in producing green steel in the future. However, BlueScope has publicly stated that some electrification technology processes are not yet commercially viable and that it expects to remain a significant gas user as part of its broader decarbonisation pathway. The company has also indicated future lower emissions steelmaking technologies could require substantial gas volumes before hydrogen becomes commercially competitive.

For the time being, Australia will rely on gas as part of our energy mix. Gas does not make up a dominant part of Australia's overall energy mix. However, it's still necessary, particularly while solar, battery, wind and other technologies are being advanced and rolled out. Industries like BlueScope need gas right now, but they should not be exposed to export based pricing. Once again, this reflects our government's commitment: our gas belongs to Australia, and our domestic gas should be priced by and for Australia. BlueScope is a major employer in the Illawarra. It's a major export earner for Australia. It needs reliable energy at a fair price, and the same applies to the many other allied metal processing and advanced manufacturing industries in the region that have high energy demands.

Elsewhere in my electorate is the Dunmore industrial precinct. This supports the quarrying, concrete and construction materials production that serve the Illawarra and Sydney markets. These industries commonly rely on gas for drying, heating and other energy intensive processing. I believe the future of these industries will also be supported by more clean and renewable energy over time, but, for them to have a future and provide jobs and products that we all rely upon, they need to be able to pay their energy bills today. Our gas reservation policy aims to give these industries that opportunity. We will do this by providing a modest oversupply of gas into the local market to push prices back down—prices that have only escalated because of international demand, rather than domestic supply, and have set an unrealistic price. We want these industries to be successful, and we want them to be sustainable. We want them to ultimately invest in clean, renewable energy that is fit for purpose, but, right now, they face an energy price squeeze because of export market dynamics, and our government is acting to address this challenge in the interests of Australian industry, Australian jobs and Australian consumers.

Australia collects tax on productive activity for our Commonwealth. We use that tax to build and maintain infrastructure that helps business and industry operate in our country. We use that tax to grow and support the workforces for these businesses and industries. We use that tax for Medicare, schools and services. The gas sector is subject to tax that contributes to all of these purposes, including the petroleum resources rent tax, or PRRT. For too long, the PRRT was not fit for purpose, particularly for the emerging LNG export sector. We have recently amended the PRRT so that Australia will receive a greater share of royalties from gas sales in future, but this doesn't fix the gas price issue for Australian businesses and consumers. A new tax on gas will not directly bring down gas prices. That's why we need a policy that targets supply, and that's what this gas reservation package will do.

By carefully increasing domestic supply, we will create conditions for the sale of gas at prices that Australians can better afford. We also want to make sure there is a viable market for companies to sell gas in Australia. If we oversupply, the price may go too low too quickly or fluctuate too much. This could make it difficult for local companies to sell gas into the domestic market. We are offering a market based solution through the gas reservation reform package. The Australian Energy Regulator will be tasked with monitoring gas demand. It will determine the amount of additional gas needed to provide the local market with a modest oversupply to put downward pressure on prices. This mechanism will manage gas suppliers to provide the equivalent of up to 20 per cent of their export volume for this purpose. The third bill in this package sets up an industry levy. A levy will also make the implementation of this policy cost neutral for the budget.

There is a broader issue confronting Australia which our reforms will also address, and that is our energy security in an increasingly volatile world, Australia's energy security depends not only on the energy we produce but on whether Australian households and businesses can reliably access it. Recent global events have shown us that abundant resources are not enough, if domestic supply is vulnerable to tight markets and global price pressures. Our reforms address this practical sovereignty challenge. Exporters will have to supply a modest percentage equivalent to their export production to the Australian market. That's alongside reforms intended to support domestic supply and energy security.

The government's Future Gas Strategy links energy security and affordability with decarbonisation and with the legislated goals of reducing emissions and reaching net zero by 2050. Our task is to manage that transition responsibly by safeguarding dependable supply for consumers and industry, supporting clean energy growth and maintaining Australia's ability to make decisions in the national interest. Reserving gas is one practical tool within that transition. It's not a commitment to greater gas consumption but a way to help ensure essential domestic needs are met as Australia decarbonises. Our gas reservation package has the backing of major industries.

High energy prices set by the gas export market have had flow-on effects to all businesses and onto families and households who need to put food on the table. The Albanese Labor government has already made a big difference with the rollout of cheap solar and wind power for households, small business and larger industries. We are driving innovation in electrification. One in three Australian households now have rooftop solar, which is an extraordinary statistic. Half-a-million home batteries have been installed through our government's Cheaper Home Batteries Program. We have funded 400 community batteries across Australia. Small and medium businesses are taking up cheaper renewables through our Small-scale Renewable Energy Scheme. Together, electric and hybrid vehicles now represent more than half of new vehicle sales, and we are asking large data centres to invest and bring their own renewable energy.

Our government is taking practical action to reduce carbon emissions and help reduce the cost of energy for all Australians, both now and into the future. But right now we still need gas, especially for some heavy industries and some manufacturers to firm and back up their need for constant and intensive energy. That's why our package of gas reservation reform deserves the support of this House.