As the Northern Territory nears the final deadline for a fracking inquiry that could see a moratorium lifted or a permanent ban instated, a business owner has called for a referendum on the controversial gas extraction practice.

Key points: Tourism businesses concerned about water risks

Tourism businesses concerned about water risks Engineering firms want economic boost

Engineering firms want economic boost Political decision will divide NT Government

But a Katherine engineer has urged the NT Government to avoid making an emotional decision rather than one based in science.

Concerned tourism business owners are calling on the NT Government to reject the draft conclusion of its fracking inquiry that risks "could be mitigated … to acceptable levels".

They want the Government to give more weight to the inquiry's finding in its draft report published last month that overwhelmingly people told it the process "is not safe, is not trusted, and is not wanted".

The Chief Minister is also under intense pressure from engineering and service businesses to allow fracking to resume in order to kickstart a flagging economy once his government's fracking inquiry reports in March.

Bitter Springs tourism operators fear for their businesses if fracking goes ahead. ( ABC News: Jane Bardon )

'It all connects'

Glenys Summers' Mataranka tourism accommodation business depends on the interlinked aquifer system that feeds the Bitter Springs swimming holes and the Roper River fishing hotspot.

She said her concerns that fracking could lower the water table have not been assuaged by the inquiry's findings, particularly as the panel could not assess the risk excessive water use could pose to regional groundwater levels.

"Most people have engaged with all these meetings we've had [with the inquiry] over fracking, everybody's got very active," she said.

"I think let's have a referendum, too."

Lisa Mumbin at Nitmiluk Gorge. ( ABC News: Jane Bardon )

The Nitmiluk National Park Board manages the Katherine River gorge on behalf of the Jawoyn traditional owners.

Chairwoman Lisa Mumbin said she had not been reassured their tourism business and the environment would be protected by the inquiry's recommendation that national parks should be no-go zones for fracking.

"It still will affect us, regardless, because our land connects with all tribal groups' country, the songlines, our ceremony — it all connects," she said.

Katherine vet Sam Phelan said the Government's decision would be "a test of democracy".

"The people of the NT have been very clear that we don't want it, and yet it's still being spruiked as something that we need," she said.

Katherine vet Sam Phelan says the fracking decision will be a test of democracy in the NT. ( ABC News: Jane Bardon )

'Listen to the science'

Janette Crowhurst, whose Katherine engineering firm had five years' worth of contracts from the gas industry before the moratorium, thinks it is time for the community to accept the inquiry's findings the risks of fracking were mostly low.

"We'd really like government to listen to the science and take that on board rather than make an emotional decision on whether this industry should come back," she said.

The moratorium hit her business hard.

"We had a lot more staff, up to about the 40 mark, and now at the moment we're down to the 10, 12 people," she said.

Katherine's businesses needed new opportunities, said Mark Gage, compliance manager for security firm Rhads.

"I'd just like to see new industries in place for my grandchildren, so they can stay here and grow with the town," he said.

"We're not growing at the moment."

Anette Crowhurst says Katherine needs the work the fracking industry can offer. ( ABC News: Jane Bardon )

Economy vs environment

As a test case to model prospective economic benefits, the inquiry used the Beetaloo Basin between Mataranka and Elliott, where the industry has estimated 70 per cent of the NT's shale gas is located.

The panel found if the industry's planned 1,000 Beetaloo gas wells go ahead, benefits could include between 4,000 and 13,600 jobs, $16 billion extra spent on goods and services, and an annual NT budget boost of 1 to 2 per cent over the next 25 years.

It posed the question but did not assess the risk that "any economic benefits will not outweigh economic detriments … to tourism, fishing, agriculture and pastoral businesses".

The NT community would not accept a staged lifting of the moratorium using the Beetaloo Basin as a guinea pig, said Lauren Mellor from the anti-fracking group Lock the Gate.

"Most Territorians are saying we won't allow Elliott or other areas to be to be made the sacrifice zone for the experiments that the fracking industry want to bring here," she said.

But the community should accept the inquiry's headline finding, said Matt Doman, spokesman for the Australian Petroleum Production and Exploration Association.

"The inquiry has found there are no risks associated with our industry that can't be managed by a robust regulatory framework," he said.

"Many people in the community have strong negative views, but there are also many people in the community who might not be as vocal who strongly support our industry."

Traditional owners of Katherine Gorge say fracking could jeopardise interconnected land. ( ABC News: Jane Bardon )

Pressure from Commonwealth to frack 'for nation's benefit'

Seventy per cent of the NT's annual budget comes from Commonwealth coffers.

Now, the NT Government faces threats from Canberra that it — or any other Australian jurisdiction that chooses not to develop its economy — could be penalised.

"The way we re-allocate funding across our nation does try to reflect the natural resources that individual states and territories have," Resources Minister Matt Canavan said.

The inquiry noted public anxiety has led to fracking halts in five Australian states, France, Germany, and several states in the United States and Canada.

"What we object to at the federal level is state governments that put in place widespread — sometimes statewide — moratoria on the basis of no evidence whatsoever," Mr Canavan said.

Fracking was a key election issue in the NT in 2016, and remains controversial. ( Supplied: Brendan Egan )

NT Chief Minister remains tight-lipped

Chief Minister Michael Gunner has so far not indicated his intention regarding the future of the fracking moratorium.

Chief Minister Michael Gunner is yet to indicate his intentions regarding the moratorium. ( ABC News: Jane Bardon )

"We're not going to make any decisions until the final report is handed down, and that could include banning it or allowing it in limited, highly regulated, highly proscribed areas," he said.

With a large parliamentary majority, there is little danger of NT Labor losing government by saying yes to fracking.

But the Territory's recent history is one of unpopular decisions that have toppled leaders from within.

The only political imperatives that could block a pro-fracking decision are threats to Mr Gunner's leadership from left faction MPs or the party's rank and file.

"We made a very clear promise at the last election as a Labor Party, and I'm the leader of that, that we would make a decision based off that final report," Mr Gunner said.

"Everyone I've talked to in the Labor movement has been very positive about the process so far, about the report being handed down and a decision being made at the end of it."

Watch ABC News special 'Boiling Point: The NT's fracking dilemma' on ABC News Channel - January 28 1830 and 2330 AEST, January 29 2330 AEST and ABC iView.