McGowan made his shock announcement on Monday afternoon telling reporters at a press conference he would step down as premier and as member of his electorate of Rockingham.

He said he was "exhausted" after a 30 year career in public office, of which six as state premier. 

The Australian Petroleum Production Exploration Association said McGowan had supported industry to build a stronger economy for WA.

During the last year, high global prices and local production translated into record LNG production valued at $51 billion in Western Australia. This was almost $24 billion more than the LNG produced in 2021.

"McGowan has demonstrated a strong understanding of the importance of natural gas to his state during his six years in power, with the sector employing thousands of West Australians and delivering over $1 billion to the state Budget annually," APPEA WA director Caroline Cherry said.

"The industry appreciates the constructive working relationship with the premier and his government during that time and its recognition of the importance of major energy supply projects for Australia's domestic and regional energy security.

"This understanding also helped kickstart the state's LNG Jobs Taskforce, allowing industry and government to work collaboratively to maintain the state's status a leading gas exporter."

When announcing his resignation, McGowan noted he was elected as premier in 2017 but had spent five years as opposition leader.