Western Australia is on its way to becoming the oil and gas centre for the Asia-Pacific region.
On a regional investment tour in Esperance last night, Resources Minister John Bowler said most of the world’s top publicly-listed petroleum companies already had representation in WA.
“The State’s unprecedented growth has made it a global centre for the petroleum industry,” Mr Bowler said.
“Our service capabilities are highly sought after in the global, and particularly the Asian, market.
“With more than $20billion in committed or probable petroleum projects, plus about another $20billion in projects that are considered possible, WA is poised to expand the petroleum sector significantly in the next decade.
“Liquefied natural gas (LNG) production alone was worth $4.3billion to WA in 2005 and this may quadruple in the next 10 to 15 years.”
The first shipment of LNG left Port Dampier for China this week, as part of a 25-year deal, worth about $25billion to the State’s economy.
Speaking at the Annual Offshore Technology Conference in Houston earlier this month, the Minister said the Carpenter Government wanted to make Perth the Houston of this part of the world.
Other countries are looking to WA as a place to relocate business, given the State’s close proximity to valuable resources, coupled with its tempting lifestyle and research capabilities.
“The WA Government is taking a long-term view of our development as an energy State,” Mr Bowler said.
“We want to grow a wide range of capabilities and we are investing in that proposition.
“We are seeing the alignment of trends in our favour with major expansions in LNG, more gas processing industries, expanding links and long-term contracts with the major energy buyers and a prospective region for oil discoveries.
“This is providing opportunities to develop new industries in related fields.
“I found global energy executives very receptive to WA becoming the centre for the oil and gas industry when I visited Houston and other petroleum centres in the USA.
“Our future prospects as a global centre for the energy industry are looking particularly bright.”
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