Go Nev, from the AFR:
Fortescue Metals Group said it will consider a push into the West Australian gas market, as it urged the federal government to force oil and gas companies to develop or relinquish their leases.
…“We still believe that provided there is the opportunity to develop it there will be plenty of companies lining up to develop it. Only if there was nobody else that would develop them [would Fortescue develop the fields],” Mr Power told reporters in Perth on Thursday.
He was releasing a Deloitte Access Economics report that found WA’s gas reservation policy should be abandoned in favour of a free market forced to develop retention leases or lose them.
FMG spends $800 million per year on gas, roughly 10% of the WA market. Not sure where they’ll get the dough to develop a field! It sure won’t be more debt.
