A new report has revealed that the proposed Browse to North West Shelf (NWS) project could inject more than AU$141 billion into the Australian economy and strengthen the nation’s energy security.
Woodside released an economic impact assessment, conducted by Deloitte Access Economics, which estimates the multi-billion-dollar development will provide a significant boost to both state and federal coffers.
The modelling estimates the project will generate AU$56.2 billion in taxes, royalties, and excise, including a AU$19.8 billion contribution through the Petroleum Resource Rent Tax (PRRT).
Woodside CEO Liz Westcott said the report showed the role Browse could play in supporting Australia’s long-term energy needs.
“Browse is Australia’s biggest undeveloped offshore gas resource and represents a major opportunity for the nation at a time when energy security matters more than ever,” Westcott said.
“Independent modelling shows Browse has the potential to power homes and businesses, support thousands of Australian jobs and generate significant revenue for governments while also helping to manage the risks and costs of the energy transition.”
The Deloitte assessment shows that the benefits from the project will be felt across the board, with approximately 80 per cent of the economic impact flowing to industries outside of oil and gas, such as construction, professional services, and public services.
At its peak, the project is expected to support up to 4,760 direct and indirect full-time jobs across the country.
The project is also a vital partner to the renewable energy transition. The Deloitte modelling indicates that Browse gas could ease pressure on Western Australia’s energy system by backing up renewables and supporting energy-intensive industries like critical minerals processing.
The proposed development involves transporting gas from the Calliance, Torosa, and Brecknock fields via a 900-kilometre pipeline to the Karratha Gas Plant.
To address environmental concerns, a carbon capture and storage (CCS) solution has been integrated into the design, which is expected to reduce greenhouse gas emissions by 53 million tonnes.
Currently in the concept definition phase, the project aims to deliver a production capacity of 11.4 million tonnes per annum, ensuring Australia remains a reliable energy partner for the Asia-Pacific region while securing domestic supply for decades to come.
