Santos CEO Kevin Gallagher says none of the major Australian resource projects have “been developed using Australian money”.

“I think we’re already in a world where sovereign risk is a major issue for Australia – I’ve said many times that none of these major resource projects have ever been developed using Australian money,” Mr Gallagher said.

“Whether that be via major offtake contracts, or direct funding into the projects themselves … today we’re not seeing that investment coming into Australia.

“The most common issue that I get asked about when I go on my investor roadshows around the world is around sovereign risk and investing in Australia.”