Joint venture partner for Gladstone LNG Project?
22nd February, 2008
Energy Current reports that Santos Ltd have posted a 32 per cent decline in full-year profit due to costs related to a leak in the Moonie to Brisbane pipeline and an increase in the provisioning for the Sidoarjo mud-flow disaster in Indonesia"Santos' operating performance in 2007 was sound, although the lower profit reflects industry cost pressures, which are impacting on operating expenses and expected future development costs,'' Managing Director John Ellice-Flint said.
Santos is undertaking the pre-FEED studies for the Gladstone liquefied natural gas project (LNG), which is slated to produce up to four million tonnes (4,409,245 tons) of gas a year from 2014. The company is considering bringing in an additional joint venture partner for the Gladstone LNG project, having received some strong preliminary interest from potential investors.