The final investment decision by Chevron Australia and the Gorgon joint venture partners for the Jansz-Io Compression (J-IC) project is a A$6 billion vote of confidence in Australia's gas industry and will support jobs, exports and domestic energy supplies for decades to come.
Minister for Resources and Water Keith Pitt welcomed the final investment decision for the massive J-IC project, which will ensure continued gas supplies to the LNG on Barrow Island, off the northwest coast of Western Australia and for domestic users.
"The final investment decision represents a massive vote of confidence in the future of Australia's gas and LNG sector. The Gorgon Project supplies clean-burning natural gas to both domestic customers and to customers across the Asia Pacific region," Minister Pitt said.
"The decision is a major step forward for the J-IC project, which will create around 350 construction jobs during the five-year development, and secure the future of around 700 Gorgon project jobs during operations.
"The Coalition Government is a strong supporter of gas and resources developments which continue to support jobs, exports and economic growth, particularly as the world recovers from the impact of the COVID-19 pandemic.
"Australia has committed to a gas-fired recovery and to open up new sources of gas to support domestic manufacturing and energy supplies and to expand export opportunities."
The J-IC project will use proven subsea compression technology to help recover gas from the Jansz-Io field to maintain long-term natural gas supply to the LNG and domestic gas plants on Barrow Island.
The technology and supporting infrastructure will also enable the future tie-in of other fields within the Greater Gorgon Area to maintain gas supply to the Barrow Island facilities.
LNG is Australia's second largest export commodity, earning $36.2 billion in export revenue in 2020.
