Santos moves closer to FID on Barossa by farming out Darwin LNG stake to SK E&S

摘要

Australia’s Santos has taken a major step towards securing additional gas supply for its Darwin LNG plant after agreeing a farmout deal for the liquefaction facility and the Bayu-Undan gas field that currently feeds it, with South Korea’s SK E&S to take a 25% stake in both assets – to complement its stake in the Barossa gas project being lined up to backfill Darwin LNG. Santos is targeting a final investment decision (FID) in early 2020 on Barossa, but deteriorating market conditions pose major headwinds to achieving this.