I rise today to speak in support of the Domestic Gas Reservation Bill 2026. The reality is that governing is rarely that simple.

Australians expect a fair return from their natural resources. They also expect affordable and reliable energy. They expect secure jobs and a stronger manufacturing sector, and good policy requires us to advance all of these objectives together. This legislation is an important contribution towards that goal. At its core, the bill is about energy sovereignty. Energy sovereignty means the capacity of a territory—like Australia—to meet its energy needs in an autonomous and sustainable way to guarantee its independence, having direct control over its energy resources, production and infrastructure. Energy sovereignty is made up of many different parts. It could mean guaranteeing security of energy supply in a particular territory. It could mean encouraging the development of renewable gases to reduce imports of fossil fuels. It could mean investing in the adaptation or construction of infrastructure to strengthen energy resilience. It could mean developing meaningful and long-lasting relationships with allies and partners in our region to achieve gains of trade. It could mean a combination of those things.

We've seen gains of trade in action recently through the Albanese Labor government's broad approach to improving energy sovereignty in this country. This approach included drawing on our relationships with Singapore, Brunei and Malaysia to secure new agreements for the supply of fuel and fertiliser. In securing these resources, the government was able to emphasise that energy security is a dual carriageway, with our gas playing a critical role in this 'gain of trade' approach.

A basket of measures to improve energy sovereignty was also a feature of the May 2026 Federal Budget, which committed $11.9 billion through the previously existing National Fuel Security Plan, with the aim of securing Australia's near-term fuel and fertiliser security. Within this was the establishment of a fuel and fertiliser security facility—a $7.5 billion investment which is intended to increase the domestic supply and storage of fuel and fertiliser by providing financial support, including loans.