Santos, Gladstone LNG Partners to Acquire Source Fields
Santos and its Gladstone LNG partners will acquire the Greater Meridian coal seam gas project for approximately $310 million to secure long-term equity production.
Santos Ltd and its partners in the Gladstone LNG venture have entered into an agreement to purchase the Greater Meridian coal seam gas project located in Queensland. The acquisition, reported by Rigzone, involves a deal with Westside Corp and Mitsui & Co Ltd for roughly $310 million. The move is designed to transition the venture from a supply contract relationship to direct equity ownership of the upstream assets.
The purchasing group includes Peroliam Nasional Bhd, Korea Gas Corp, and TotalEnergies SE alongside Santos. Each participant will take a pro-rata share based on their existing interests in the Gladstone project. Once the transaction concludes, Santos will assume the role of operator. The deal is expected to close by the end of the year, pending the necessary regulatory approvals and customary closing conditions.
The Meridian field currently yields 47 terajoules per day, primarily feeding the Gladstone facility with a smaller portion designated for the domestic market. According to Santos chief executive Kevin Gallagher, the purchase aligns with strict capital allocation standards and is considered "value-accretive for Santos." The company also confirmed the sale of its minority operating interest in the Mahalo gas project to Comet Ridge.
By divesting the Mahalo stake, Santos has monetized an asset that was not identified as a high priority for its immediate development schedule. Meanwhile, the Greater Meridian acquisition includes significant proven and probable reserves. The partners intend to evaluate the Mungis coal seam gas area, located north of the current production zone, as a potential standalone investment for future development.
Editorial Desk — Trade Flow Insight. Reporting and market notes compiled by the Trade Flow Insight editorial team.
Articoli correlati
L'Europa si prepara a una crisi energetica invernale con scorte di gas ai minimi
Dopo mesi di prezzi dell'energia elevati, l'Europa deve aspettarsi che i costi del carburante continuino ad aumentare durante i mesi invernali con la crescita della domanda. Le continue limitazioni nel commercio energetico e le minacce alle infrastrutture energetiche in tutto il Medio Oriente dovrebbero limitare le forniture energetiche globali e continuare a far salire i prezzi, colpendo duramente i consumatori a meno di interventi governativi. Si stima che l'Unione Europea (UE) abbia pagato 100 miliardi di euro in più per petrolio e gas quest'anno, spingendo i ministri dell'UE a cercare modi
Il petrolio avanza tra i rischi legati alla guerra e agli uragani
I prezzi del petrolio sono leggermente saliti mentre gli attacchi alle navi cisterna in Medio Oriente e l'uragano Isaias hanno accresciuto le preoccupazioni sull'offerta.
L'Australia pubblicherà il piano definitivo per trattenere più GNL all'interno del Paese
L'Australia è pronta a svelare la versione finale di un controverso piano per obbligare i produttori di gas naturale liquefatto a riservare fino a un quinto della propria produzione per gli acquirenti locali.