Santos chief executive Kevin Gallagher has called on state and federal energy ministers to clear the way for the stalled Narrabri gas project in NSW as they consider emergency action to ease the growing supply crisis in the south-eastern states.

Speaking after the oil and gas producer posted a slightly weaker-than-expected 14 per cent drop in full-year profit, Gallagher said that a big part of the solution to the problem was sitting in plain sight.