Santos sticks to gas, earmarking $1bn for Narrabri development

Original article by Perry Williams
The Australian – Page: 16 : 2-Dec-20

Santos CEO Kevin Gallagher says the oil and gas producer will not diversify into renewable energy or electricity generation. He contends that global demand for fuels will remain strong for a long time, while gas will play a major role in reducing carbon emissions over coming decades. Meanwhile, Santos expects to make a final investment decision on its Narrabri gas project in the first half of 2023, with the first phase of its development slated to cost $US650m. Santos has also advised that its Barossa LNG project will cost significantly less to develop than initially forecast.

CORPORATES
SANTOS LIMITED – ASX STO

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