The North West Shelf Project Extension has received final Commonwealth Government approval to continue operating beyond 2030 in an outcome welcomed by the Chamber of Minerals and Energy WA (CME).
CME Director Policy and Advocacy Anita Logiudice said the long-awaited resolution significantly boosted Western Australia’s energy security and would benefit WA industry and households.
“The importance of the North West Shelf to WA cannot be overstated,” Ms Logiudice said.
“The North West Shelf Project has provided energy security for WA for more than 40 years, supported WA industries and created thousands of direct and indirect jobs.
“Since coming online in 1984, the North West Shelf Project has generated over $40 billion in royalties and excise – money used to fund roads, schools and hospitals as well as essential services like Medicare and the NDIS.
“In addition to its economic benefits, gas has a key role to play in the decarbonisation of WA’s power grids as a reliable and affordable form of back-up electricity when the sun is not shining and wind turbines fall still.
“LNG exported from WA is also helping our Asian neighbours to displace coal, providing energy security on their own decarbonisation journeys.”
Woodside, which operates the North West Shelf Project, first applied to extend the life of the facility more than six years ago.
Ms Logiudice said the protracted wait for approval for continued operations at an existing project of national significance was evidence of the urgent need to reform and simplify Australia’s assessment processes.
“Delays kill projects. A rigorous and independent approvals system is critical – but so is providing proponents with a degree of certainty over timeframes,” Ms Logiudice said.
“If we can’t provide that certainty, investors will take their capital – and all the jobs and economic opportunity it creates – to competing countries.
“That is why it is so important upcoming EPBC Act reform delivers on both its stated objectives, improving environmental outcomes while also simplifying and speeding up assessments.”
Media contacts:
Josh Zimmerman j.zimmerman@cmewa.com / 0404 947 719
Natasha Mutch n.mutch@cmewa.com / 0435 383 382