Fortescue Metals Group Limited (ASX:FMG) has called for the enforcement of policies to encourage the development of Western Australia’s abundant gas reserves.
The Pilbara focussed iron ore miner is hoping to make a long term switch from imported diesel to reliable, competitively priced Australian natural gas.
Launching a Deloitte Access Economics report called Western Australia Gas Sector Analysis Fortescue CEO Nev Power has affirmed the importance of getting policy settings right.
The company’s strategy of switching from diesel to gas is currently underway with the construction of the Fortescue River Gas Pipeline expected to annually save about $20 million.
Fortescue reported a net profit of $1.92 billion in the first half of the 2014 financial year.
