The Cook Government has granted significant project status to Browse in recognition of the critical importance of the resource to both the State and national economies and regional energy security.
The Chamber of Minerals and Energy WA (CME) strongly supports the designation, which enables streamlined and coordinated progress through the State assessment framework without compromising the rigour of the approvals process.
CME Chief Executive Officer Aaron Morey said the Cook Government should be congratulated for taking a practical step to support one of Australia’s most important prospective energy developments.
“Premier Roger Cook has consistently recognised the role gas plays in keeping Western Australia’s economy strong and its energy system secure as we transition to net zero,” Mr Morey said.
“This decision turns that recognition into practical action. Significant project status does not lower the approvals bar. It provides the coordination and urgency needed to assess a project of this scale efficiently and thoroughly.
“That is precisely the kind of clear-eyed leadership global investors need to see from governments.”
An independent economic analysis by Deloitte estimated Browse would generate more than $56 billion in taxes and royalties, support nearly 4800 jobs and increase economic activity across Western Australia by $147 billion.
“There are few projects of greater significance to WA’s long-term economic outlook than Browse,” Mr Morey said.
“Countries around the world are competing fiercely to secure projects of this scale and the enormous benefits they deliver through jobs, investment, taxes and royalties.
“Global capital is impatient and highly mobile. The companies capable of investing tens of billions of dollars in major energy projects have no shortage of options about where to deploy that capital.
“The Cook Government’s decision sends an important signal that Western Australia understands the competition and is serious about securing the next generation of major projects.”
Mr Morey said Browse gas could help power Western Australian homes and businesses, support industrial development and provide lower-emissions energy to Australia’s Asian trading partners.
“Affordable and reliable energy is now one of the decisive factors determining where businesses invest and where the industries of the future will be built,” Mr Morey said.
“Gas remains vital to WA’s energy security and the cost-effective decarbonisation of electricity systems at home and across Asia.
“Flexible, fast-dispatching gas generation is an essential backstop for renewable energy and batteries and many industrial and manufacturing processes still have no practical substitute for gas.
“Today’s decision is an important milestone. CME looks forward to the State and Commonwealth assessment processes now proceeding with the efficiency, coordination and certainty that a project of such enormous strategic importance deserves.”
Media contacts:
Josh Zimmerman j.zimmerman@cmewa.com / 0404 947 719
Natasha Mutch n.mutch@cmewa.com / 0435 383 382