It is critical the 12-month inquiry now be completed promptly to bring certainty to investors, local businesses, Traditional Owners, landholders and all Territorians.

Importantly, the draft report confirms that natural gas development would have significant economic and employment benefits. The report contains analysis by economic consultants ACIL Allen that shale gas development could create more than 500 new jobs every year for over 25 years, boost the NT economy by $5.8 billion and generate up to $3.7 billion in taxes and royalties for the Territory over the same period.

■ RELATED: FRACKING: THE TERRITORY’S FRACTURED DEBATE

■ RELATED: FRACKING: WHAT LOCK THE GATE HAS TO SAY

■ RELATED: FRACKING: NT OPPOSITION LEADER TALKS

■ RELATED: FRACKING: NORTHERN LAND COUNCIL FHIEF EXECUTIVE TALKS

Of course, that would mean little if the NT’s unique environment were put at risk.

The report’s over 800 pages highlight this need not be the case, agreeing with the conclusion reached by numerous other scientific inquiries and reviews that any risks associated with hydraulic fracturing can be minimised or eliminated with proper regulation.

In doing so, the report debunks many myths spread by activists opposed to onshore gas development.

The report includes 120 recommendations, many of which draw from states such as Queensland and South Australia that have long histories of safe, sustainable gas industries.

Gas companies stand ready to invest billions of dollars in new projects if the industry is allowed to resume exploration activity. There is no reason the Northern Territory cannot manage the safe, sustainable development of its considerable natural gas resources.