Santos inks 10-year deal with South Australian government to supply gas
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The news: Santos has entered into a binding agreement with the South Australian government for the supply of gas over 10 years to support the transformation of the Whyalla Steelworks into a low-emissions green iron facility.
The context: The agreement is scheduled to commence on 1 March 2030 at the Moomba Central Area of the Cooper Basin in South Australia.
The company said it employs over 1,000 people in South Australia and has invested more than $370 million in state royalties, as well as sport and community initiatives.
The transaction is subject to the execution of a fully formed gas supply agreement by 30 June alongside other regulatory approvals.
What they said: “With this agreement, Santos is also proud to be playing important role in South Australia’s broader economic future by supporting the government’s plan for sale and transformation of the Whyalla Steelworks,” Santos CEO Kevin Gallagher said.
The source: ASX
