• Natural Gas News

    Jera to buy 12.5% stake in Barossa gas field

Summary

The $3.6bn Barossa gas and condensate project offshore Australia's Northern Territory will help extend the life of the Darwin LNG project.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Security of Supply, Corporate, Exploration & Production, Investments, News By Country, Australia

Jera to buy 12.5% stake in Barossa gas field

Japan’s Jera will buy a 12.5% stake in the Barossa/Caldita gas field in Australia from its operator Santos, it said on December 8. News agency Reuters reported that the Japanese company would spend about $300mn for the stake and on its share of the project's development costs this year.

The Barossa gas field is located in Australian waters off the Northern Territory. The Barossa development will comprise a floating production, storage and offloading vessel, subsea production wells, supporting subsea infrastructure and a gas export pipeline tied into the existing Bayu-Undan to Darwin LNG pipeline. First gas is targeted for the first half of 2025.

Jera will receive about 0.425mn metric tons/year of LNG from the project, which is equivalent to its equity stake in the Barossa gas field. Santos sanctioned the $3.6bn project in March this year.