- Strike Energy (STX) receives backing from the WA Government for its Gas Acceleration Strategy
- The funding will go toward the timely development of STX’s Walyering, Ocean Hill and its South and West Erregulla gas fields, located in the Perth Basin
- Strike MD and CEO Stuart Nicholls says the contract is a recognition of the company’s integral role in the State’s energy transition
- The funding supports STX on track to deliver these four critical domestic gas projects into the WA market as planned by the end of 2025
- STX shares closed 1 per cent lower, trading at 47.5 cents at market close.
Strike Energy (STX) has been awarded Lead Agency Service for its Gas Acceleration Strategy by the Western Australia Government.
The company announced funding would support the timely development of its Walyering, Ocean Hill and its South and West Erregulla gas fields in the Perth Basin.
The contract is also designed to help Strike in navigating the approvals processes and ensure efficient communication between government agencies.
Strike Managing Director and CEO Stuart Nicholls said the contract was a recognition of the company’s integral role in the State’s energy transition.
“This framework will help Strike meet its target of bringing its four gas fields online by the end of 2025 when the WA gas market is forecast to be in a severe tightness,” He said.
“Gas is an important driver of the Western Australian economy and is an enabler for a rapid reduction in the carbon intensity of our energy system by displacing coal and diesel-fired power generation, which remains widespread throughout the State.”
The company also announced that the growth and advancement of its gas projects would contribute significantly to the economy, job market, and infrastructure development in the State.
Specifically, the projects would benefit the Mid-West region of WA and drive increased availability of competitive, locally produced energy for domestic consumption.
STX shares closed 1 per cent lower, trading at 47.5 cents at market close.