"I see a truly national industry, not a gas industry and an electricity industry but a unified energy industry with a comprehensive national energy strategy," Mr Martin said at the annual Australian Gas Association Convention in Sydney.

Mr Martin said the more successful energy companies in the future will have 2.5 million gas and/or electricity customers, a large investment portfolio of gas and electricity production as well as transmission or network assets.

He added demand for natural gas would continue to surge especially as Australia came under pressure to reduce greenhouse gas emissions.

One of the biggest gripes of industry lobby groups is the inconsistent approach by regulators across the country, which they argue hinders investment in new infrastructure.

Speaking at the convention, NSW Premier Mr Bob Carr, gave his support to the idea of one national industry regulator instead of the eight or so regulators at present.