The articles in the Fin Review on Monday and Tuesday don’t actually distinguish. But here is an excerpt.
WA is facing a looming gas shortfall ahead of 2030, which a parliamentary inquiry has warned could jeopardise chemical and downstream mineral processing industries and cost the state billions in economic activity.
On Monday, WA resources minister David Michael said it was up to the federal government to determine whether to grant the companies a retention licence – which would allow the fields to remain undeveloped for years to come – but he hoped the companies had a good reason for sitting on the lucrative assets.
Chevron responded and said they would develop there assets.
Chevron has vowed to undertake “significant investment” in new gas fields off the West Australian coast, as the federal government considers wielding its “use it or lose it” powers on undeveloped fields held by major energy companies.
The retention status of a handful of gas fields off the north-west coast held by energy giants, including Chevron, are under assessment by the commonwealth, with the WA government beginning to increase pressure for the assets to be developed or taken away from the companies.
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