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Santos advised on ‘strategically important’ transaction
Allens has advised Santos on an LNG sale and purchase agreement (SPA) with regard to its Barossa project.
Emma Musgrave
Firm: Allens (Santos).
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Deal: Santos’ LNG sale and purchase agreement (SPA) with Diamond Gas International Pte Ltd is for the supply of LNG from the Barossa project.
Value: Undisclosed.
Area: Energy and resources.
Key players: The team advising Santos was led by projects and development partner Tracey Greenaway, senior associate Anne Beresford, associate Kate Strachan and lawyer Terence Zhou.
Deal significance: According to a statement from Allens, the long-term SPA “is for the supply of 1.5 million metric tonnes per annum of Santos equity LNG over an initial period of 10 years with extension options”.
“The SPA is strategically important for Santos as it underpins the development of the Barossa project and is Santos’ first long-term sale of equity LNG from one its major LNG projects,” the statement said.
Lead partner Tracey Greenaway added: “We are delighted to have worked with the Santos LNG marketing team on this agreement and to support Santos’ continued growth in the LNG and natural gas sector.
“With global demand for gas projected to grow at a steady rate in coming years, and with the important role it is predicted to play as a transition fuel to renewable energy, we expect activity in this sector to go from strength to strength.”
