The Minister for Resources and Energy, Martin Ferguson AM MP, has marked the 25th anniversary of the North West Shelf Venture development by congratulating the industry partners on being part of an historic acceleration in gas production.
This year the North West Shelf Venture reached two significant milestones: 25 years of domestic gas production and 20 years of liquefied natural gas (LNG) exports to customers throughout the Asia Pacific region.
Speaking at a ceremony in Canberra to mark 25 years of Woodside's involvement in the project, Minister Ferguson said the North West Shelf gas project represents a quarter of a century of achievement.
"My assessment of this project's importance is quite simple," he said. "Can you imagine what Western Australia would be like today, or what its future would hold, without this development?
"The answer is you can't."
The North West Shelf Project has not only spawned a thriving WA oil and gas sector. It has also driven the application of cutting edge technologies and has led to the emergence of a world class petroleum services hub in Perth.
Since 1989, this project has dispatched more than 2,700 cargoes; each carrying enough LNG to power the lights at the Melbourne Cricket Ground for 20 years. Australian business gets an $800 million stimulus from the North West Shelf every year. At the same time, more than $1 billion in government revenue is generated by the project to invest in essential public services such as roads, education and healthcare.
Minister Ferguson paid tribute to all the partners in the North West Shelf Venture including Woodside, BHP Billiton, BP, Chevron, Japan Australia LNG and Shell.
Global demand for LNG is forecast to triple by 2030 and Australia's LNG production capacity will increase to 24 million tonnes by 2011 when Woodside's Pluto LNG project comes online.
Minister Ferguson said: "LNG can secure Australia's future as a global energy superpower - enhancing energy security at home, building energy security for our trading partners, giving our neighbours a cleaner-burning fuel and driving Australia's economic growth and social well-being."