NSW is the second state to agree to let a commonwealth-funded scientific committee assess coal seam gas (CSG) projects.
The state will get $17.5 million from the commonwealth for its pledge.
Prime Minister Julia Gillard said on Wednesday the agreement meant all environmental approvals and licensing developments for CSG and large coal mining developments in NSW would be given advice from an independent expert scientific committee.
In particular, the committee will look at mining proposals that could significantly impact water resources.
Setting up the committee, at a cost of $150 million, was the price rural independent MP Tony Windsor demanded from Labor in exchange for support on its mining profits tax.
Ms Gillard said as well as the incentive payment NSW would get for signing up, it will be entitled to a significant portion of the $150 million funding because it was expected to have a considerable number of future CSG developments.
Queensland signed up last month.
The commonwealth is still waiting on Victoria, South Australia and the Northern Territory to join.
Business Spectator
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