Business
Santos sees momentum building for Australian LNG projects revival – Sydney Morning Herald
The Australian gas giant has given the go-ahead to a $300 million drilling project in the Timor Sea, marking its first new investment decision since last year’s…
“We are delighted to be able to pursue an opportunity that wasn’t on the table 12 months ago, which will optimise field recovery, extend production and deliver significant value to both the Bayu-Undan joint venture and the people of Timor-Leste,” he said.
Santos became operator of the Bayu-Undan joint venture in May last year through its $1.6 billion acquisition of ConocoPhillips northern Australia and Timor-Leste assets.
Australia’s exports of LNG, a fuel widely used in power generation, heating…
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