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SANTOS LIMITED — Capital/Financing Update 2017
Sep 6, 2017
65872_rns_2017-09-06_b20e6108-7e6d-4226-ada9-41fbfb42d7c4.pdf
Capital/Financing Update
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ASX / Media Release
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7 September 2017
30 PJ of GLNG gas to be supplied into the East Coast domestic market
Santos today announced that Santos and its GLNG joint venture partners will supply 30 petajoules (PJ) of gas to the east coast domestic market over 2018 and 2019.
The gas, which would otherwise have been exported as LNG, is being sold to east coast customers including power companies.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “Over the last few months, Santos has been working constructively with the Federal Government and our GLNG partners to supply additional gas to the east coast domestic market.
“30 PJ is a material volume of gas which could power a 228 MW power station or 330,000 homes over the two year period.
“It is further proof of our readiness to work with our partners in responding to market dynamics and meeting local gas demand and I would like to thank them for their support.
“As an Australian company we are committed to improving energy reliability and affordability for all Australians, both householders and industry.
“We have been producing and marketing domestic gas for many years, and we have the capacity to leverage our various assets and partnerships to ensure this energy security,” Mr Gallagher said.
These arrangements follow recent Santos announcements for the delivery of up to 72 PJ of gas over four years into the south-east market through a swap agreement and the sale of 15 PJ to the Pelican Point Power Station in South Australia.
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Investor enquiries Andrew Hay +61 8 8116 7722 / +61 (0) 424 054 095 [email protected]
Media enquiries Jo Vaughan +61 (0) 419 111 779 [email protected]
Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T +61 8 8116 5000 F +61 8 8116 5131 www.santos.com