Santos completes sale of Barossa stake to Japan’s JERA

Centrica LNG agreement — An LNG tanker moored next to a bunker vessel

Santos today announced completion of the sale of a 12.5% interest in the Barossa project off northern Australia to Japan’s JERA, the world’s largest buyer of liquefied natural gas (LNG), following the completion of all regulatory approvals.

Cash proceeds to Santos at completion were US$327 million, said the Australian company.

The Barossa gas and condensate project to backfill Darwin LNG was 33% complete at the end of March and remains on schedule and budget for first production in the first half of 2025, added Santos.

Participants in the Barossa project are Santos (50% and operator), South Korea’s SK E&S (37.5%) and JERA (12.5%).