The project involves the development of the Pluto gas field, located off the north-west coast of Western Australia and the construction of a new onshore LNG facility in the Pilbara region.

It contains an estimated contingent resource of at least 3.5 trillion cubic feet of relatively dry gas, which contains small amounts of condensate and low levels of carbon dioxide.

MPF means the project will receive assistance from Invest Australia – the Australian government’s national inward investment agency – which will work closely with the project proponents and both levels of government.

The service provides investors with information, advice and assistance with government approvals, as well as identifying relevant government programs to assist large investment projects.

With Woodside planning to produce between five and seven million tonnes of LNG a year, acfarlane said this not only represented a significant boost to Australia’s exports but also considerable scope for regional economic benefits.

“This project offers Australia a significant opportunity to further develop its valuable gas resources and access LNG markets in the Asia Pacific region, including the emerging North American market,” said Mr Macfarlane.

Discovered earlier this year, the Pluto field is about 100km off the north-west coast of Western Australia and roughly 180km from the Burrup Peninsula.

More than 1500 jobs will be created during the construction phase, with about 150 ongoing jobs to continue operations.