As part of the transaction, the state government has paid $A10 million for an economic development fund and $20 million for indigenous housing in accordance with native title agreements struck in 2011.

"It has taken substantial effort to reach this point, with the support of traditional landholders," WA Premier and State Development Minister Collin Barnett said.

"I thank the indigenous community for their courage in working with the state government to secure this agreement, and its associated social and economic benefits."

With the Browse JV plans no longer including an LNG plant and export facility at the site, a WA government spokeswoman shed more light on the Barnett government's motivations.

She told ENP the land could be used as a supply base in future for projects in the Browse Basin, and eventually onshore in the Canning Basin.

The role as a supply base is to support potential operations in these basins, especially in terms of maintenance and logistical services.

"The government is committed to delivering a project-ready site for the development of the region's world-class gas resources," Barnett said.

The JPP site was selected by the WA government in 2009 from more than 40 locations, with nearby deepwater access being a key consideration.

The land is expected to be returned to traditional owners once its life as a "gas precinct" is over, with these owners expected to have an ongoing role in managing environmental, social and heritage outcomes.

State-owned LandCorp will manage the land while the Broome Port Authority will manage the earmarked "port area".