Santos offices in Brisbane, Australia
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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