That's according to local business spokesperson, Narrabri Chamber of Commerce President Russell Stewart.

Mr Stewart, a long-term supporter of the project, walked the main street to take the temperature of business in the town hours after Wednesday morning's announcement.

He said Narrabri was overjoyed at the green light by the Independent Planning Commission (IPC) for Santos' multi-billion-dollar coal seam gas project.

"I'm old enough to remember the beginning of the irrigation industry. And it seems like deja vu to me. That was a wonderful opportunity for the region and it had its detractors," he said.

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Member for Barwon Roy Butler opposes the project, largely because he is concerned about its potential effect on groundwater.

The Shooters, Fishers and Farmers MP said he is reassured by conditions imposed by the IPC.

"We're still working through the 134 recommendations," he said.

"We were very heartened to see that the IPC had demanded a higher standard of protection for groundwater. And also they've put a caveat in there that basically says the project won't go ahead if you can't satisfy the standard required in terms of groundwater protection.

"I'm not happy it was approved, obviously, that's was something I'd rather not see happen."

The plan to sink as many as 850 CSG wells in and around the Pilliga State Forest has been controversial for years.

Local Indigenous groups, farming bodies and Lock the Gate Alliance rejected the approval on Wednesday. Many said they would be willing to go to jail to halt construction of the project, condemning it as a threat to groundwater, the environment, and for contributing to climate change.

The IPC announced on Wednesday morning it had given the project phased approval with 134 conditions.

In its statement of reasons for the decision, the commission "is satisfied" that a potential threat to groundwater from the project "can be effectively managed under the conditions of consent".

Narrabri Shire Council hopes the project will help grow the town to 14,000 people.

Roy Butler said that won't be possible without a reliable supply of domestic water.

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