Santos

Asia

Santos’ Barossa LNG emissions create major risks for shareholders

Santos’ proposed offshore Barossa gas field development off Australia’s Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into liquefied natural gas (LNG), finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).

Asia

Santos approves $3.6bn Barossa LNG project

Santos has approved final investment for its $3.6 billion Barossa gas and condensate project off Australia’s Northern Territory that is targeting production in 2025. The go-ahead marks the biggest investment in Australia’s oil and gas sector since 2012.

Asia

Blow for Santos as China’s ENN exits

Santos said today that its largest shareholder had sold about one third of its stake worth A$785 million ($603.7 million) in the Australian gas producer. This ends a strategic relationship with ENN Group, which is one of the largest gas distributors in China.

LNG

Santos breathes new life into East Timor’s Bayu-Undan

Santos has approved US$235 million worth of investment for an infill drilling campaign that will extend the life of the Bayu-Undan field offshore East Timor. As a result, the Santos-led Darwin LNG export plant, which is fed by the aging field, will not need to be shut down while new supplies of gas are developed.

Asia

Upstream spend at risk in Asia Pacific

Demand destruction and sustained oil prices below $40 per barrel mean Asia Pacific is bracing itself for a brutal wave of cost cutting that will see its reliance on imports rise as upstream investment is hit hard.

Australasia

Santos to redirect gas to South Australian economy

Santos today announced it had signed an agreement with ENGIE in Australia for the supply of gas to the Pelican Point Power Station that will help support South Australia’s energy needs. The contract is for 15PJ, starting in January 2018. The contract will be fulfilled with a mix of GLNG gas and Santos portfolio gas.