Santos will supply 750 petajoules of gas from its eastern Australian gas portfolio to the GLNG project.
The existing uncontracted Cooper Basin 2P reserves will be the primary supply source.
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The gas supply to GLNG will be in line with Santos’ strategy of developing its significant Australian gas reserves and resources position through its domestic and export channels to market.
Santos will supply gas over a period of 15 years beginning in 2014, which is conditional on a final investment decision on GLNG train two.
Santos CEO David Knox said the agreement delivers significant value to Santos’ Cooper Basin position by opening an export channel for Cooper gas and accelerating its monetisation.
Santos has a 66.6% interest in the South Australian Cooper Basin joint venture with Beach Energy holding another 20.21% and Origin Energy the remaining 13.19%.
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By GlobalData
