FMG chief executive Nev Power. Photo: Attila Csaszar

FMG chief calls for gas reservation reform

Fortescue Metals Group has called for the phasing out of the state government’s contentious domestic gas reservation policy, which has traditionally been backed by big gas buyers, in favour of stricter application of the ‘use it or lose it’ rules.


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FMG haven't even been in the market for gas for long and are already complaining. I suggest they get a better understanding before crying to the government that they want cheap gas. The WA gas market is currently well supplied and any additional gas whilst it would reduce prices, would be difficult to sell and unviable for the producer. FMG would not be a large user of gas for many many years to come. Someone the size of FMG should direct a few more resources to understand the market themselves first.

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BN30 Index

Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
61stAtlas Iron187%-42%
204thNorthern Star Resources56%70%
209thMineral Resources53%19%
531stFortescue Metals Group-10%13%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

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Total value as at the date of the transaction
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1st-Fortescue Metals Group$10,999.7m
4th-Mineral Resources$1,470.4m
5th↓Atlas Iron$896.6m
6th↓Northern Star Resources$850.6m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

554thMark Barnaba$223k
656thSharon Warburton$170k
714thElizabeth Gaines$161k
Ranked by total remuneration from all listed WA companies

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