Santos proceeds with GLNG pipeline sale
Santos has appointed Goldman Sachs to arrange the sale of its 420 km Santos GLNG Project gas export pipeline in Queensland, Australia.
The sale of the pipeline, which connects Santos’ Fairview, Bowen and Roma CSG fields in the Surat Basin, eastern Australia, to the project’s LNG facilities on Curtis Island, follows the sale of BG Group’s Queensland Curtis LNG (QCLNG) Project pipeline in December 2014 to APA Group.
Santos recently confirmed the company was also conducting negotiations for the possible sale of up to 30 per cent of the company’s interest in the Narrabri Gas Project in northern New South Wales, suggesting the project won’t go ahead without additional investment.
The GLNG Project is more than 90 per cent complete and on track for first LNG in the second-half of 2015.
The project is a joint venture between Santos (30 per cent) and PETRONAS (27.5 per cent), Total (27.5 per cent) and KOGAS (15 per cent).