Such a pipeline would provide greater choice and competition, increase Australian's energy supply security and help achieve greenhouse gas emission targets, Gallop said in an address to the Australian Petroleum Production & Exploration Association (APPEA) conference in Perth yesterday.
"At the very least, investigation and planning work for the pipeline should be happening now. Such an investment will be a small price to pay," Gallop said.
More federal leadership and funding was needed on such projects as Western Australia could not afford to continue to "go it alone" in funding major infrastructure, according to Gallop.
"Western Australia is the powerhouse of the nation and the federal government would be foolish to squander the opportunity of ensuring they fuel the national economy for decades to come," he said.
"My government will continue to take this infrastructure funding battle up to the Commonwealth. We need the federal government working with my government to make sure we can realise the enormous potential Western Australia brings."
Meanwhile the Gallop Government has set up a projects taskforce - made up of ministers from portfolios such as Housing and Works, treasury, planning and infrastructure and small business - to ensure that major infrastructure porgrams were implemented properly and cost-effectively, Gallop said.
"The key role of the task force is to hold government departments accountable for the delivery of major projects, on time and on budget," Dr Gallop said.
"Big projects invariably face problems related to timetables and budgets so it makes sense for them to receive the highest level of government attention," he said.