Speaking at the 2014 South East Asia Australia Onshore and Offshore Conference, Mr Ferguson hailed the oil and gas and resources industries for the economic highs Australia had enjoyed in the past 20 years, however noted that Australia and its policymakers were now presented with a decision to continue this growth through supporting the development of the LNG industry, or allow it to stagnate.

Mr Ferguson noted the Northern Territory had just experienced the highest growth rate out of any other Australian state, which, for a state with less than 250,000 residents, was a remarkable achievement and a testa...