Agreement reserves portion of gas discoveries

The State Government has ratified an agreement ensuring West Australians will benefit from gas discovered in the Canning Basin.

The Canning Basin agreement was signed by the Government and joint venture partners, Buru Energy and Mitsubishi Corporation.

It is estimated the Canning Basin, in the remote north of WA, holds the potential for about one-and-a-half times the amount of unconventional gas than current offshore resources can yield.

The State Government says the agreement ensures 15 per cent of any gas processed for export is reserved for WA's domestic gas market.

The 25 year agreement also legislates the continued exploration of the basin as well as the development of a gas pipeline to the Pilbara.

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