Santos advances Barossa project

Australian independent set to finalise sale of stake to Japan’s Jera in H1 2022

Australian independent Santos is on pace to complete its sale of a stake in the Barossa gas project in Australia to Japanese LNG buyer Jera in the first half of this year. Jera has agreed to buy the 12.5pc share for around $300mn. Barossa—which is 300km north of Darwin—is expected to start production in 2025 and will provide backfill gas for the existing 3.7mn t/yr Darwin LNG liquefaction facility, once the mature Bayu-Undan field ceases production. Barossa’s gas will be tied into the Bayu-Undan-Darwin pipeline. With the completion of the Barossa transaction, Santos will operate the new field with a 50pc stake, while South Korea’s SK E&S will hold 37.5pc. Jera already has a 6.1pc stake i

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