I seek leave to amend business of the Senate notice of motion No. 1, before asking that it be taken as a formal motion, in the terms that have been circulated in the chamber.

Leave granted.

I move the motion as amended:

That the following matter be referred to the Environment and Communications References Committee for inquiry and report by interim report by Tuesday, 3 August 2021 with the final report due by the first sitting Tuesday of March 2022:

Oil and gas exploration and production in the Beetaloo Basin, with particular reference to:

(a) the Industry Research and Development (Beetaloo Cooperative Drilling Program) Instrument 2021, which provides public money for oil and gas corporations;

I seek leave to make a short statement.

Leave is granted for one minute.

It is unnecessary for this matter to be referred to the committee. The Beetaloo Cooperative Drilling Program has been carefully considered. It is a key plank of our plan to bring on new gas supply to help address domestic shortfall, maintain affordability and continue to grow a strong economy. The Northern Territory's Beetaloo Sub-basin is one of the largest undeveloped onshore gas resources in the world. Development has the potential to create 6,000 jobs by 2040, transform the Northern Territory's economy and supply gas into domestic markets for decades to come.

The question is the motion moved by Senator Waters be agreed to.