The Gas Bulletin Board will be operated by the Independent Market Operator (IMO).

Each day, registered traders will nominate how much gas they are willing to buy or sell, and at what price. The IMO will then match potential buyers and sellers.

Eligible participants need to have a transportation agreement on the Dampier-to-Bunbury Natural Gas Pipeline or, alternatively, would need to participate through their gas retailer.

"The bulletin board, which is similar to those used in many jurisdictions around the world, is a simple, transparent, email-based system to bring buyers and sellers together," WA Energy Minister Francis Logan said.

"The disruption to gas supplies because of the explosion at Varanus Island means it is critical to ensure that every terajoule of gas is made available to those who need it most."

He added that anyone with internet access would be able to see the amount of gas available and the prices at which bids and offers had been made, ensuring that it remained a transparent market and enabling gas resources to be used most efficiently.

The IMO will immediately begin registering participants, with the first trades expected later this week. Interested parties should contact the IMO at 9254 4366 or GBB@imowa.com.au .