Press

Santos Signs New Long Term Domestic Gas Supply Deal With Brickworks

Posted by OilVoice Press - OilVoice

12-Sep-2018


Santos is pleased to announce that it has signed a new long term natural gas supply agreement with Brickworks Limited for its east coast operations through to the end of 2024.

This new supply agreement will provide Brickworks' east coast operations with a flexible source of natural gas at competitive, stable, long term prices.

The natural gas contracted to Brickworks will supply its east coast operations in South Australia, Victoria, Queensland and New South Wales. Santos will supply gas from fields in the Cooper Basin.

Santos will supply up to 15PJ of natural gas over the life of the agreement, allowing Brickworks to continue its focus on operational excellence.

Santos Managing Director and CEO Kevin Gallagher said this natural gas supply agreement is another demonstration of Santos' commitment to secure the future of Australian manufacturing jobs.

“Santos is actively participating in the wholesale commercial and industrial market on the east coast, adding to competition in the domestic market and helping deliver more competitive natural gas prices and terms for Australian industry,” Mr Gallagher said.

“We believe that providing a wholesale supply option has helped deliver a better price outcome for Brickworks.”

Since 2015 Santos has reduced connected well costs in Queensland by 84 per cent and completed well costs in the Cooper by 50 per cent to become Australia's lowest cost onshore natural gas developer.

“Drilling more wells and lowering production costs – extracting more gas for less money – is the best way to keep downward pressure on gas prices.”

Brickworks said it sees significant advantages in sourcing supply from the wholesale market which has delivered increased supply flexibility that has enabled it to better manage the variable nature of the brick production process.

“The new gas supply agreement with Santos provides our east coast operations with flexibility and certainty of gas supply at competitive prices and will underpin our strong manufacturing position in Australia,” Brickworks Managing Director Lindsay Partridge said.

Santos is on track to supply about 70 PJ of gas to the east coast market in 2018, which is almost 13 per cent of expected demand this year.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

SantosUnited Statesgasnatural gas

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 10 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 1 year agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 1 year agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 1 year agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice