Still, the Australasian Centre for Corporate Responsibility described the project as a “carbon bomb” given the CO2 content of the gas of 18-19 per cent, which it said would simply be vented into the atmosphere. Mr Gallagher said he expected the energy transition to speed up the switch from coal to gas in the region rather than accelerate a move away from gas. That’s what we are reacting to, customer demand across Asia.” “We’ve sold the gas to me you can’t get any more confidence than that,” he told The Australian Financial Review. The Barossa gas field will be developed using a production ship in the Timor Sea. It is Santos’ first major growth investment since the oil price crash a year ago that brought major development projects to a halt.Ĭhief executive Kevin Gallagher said Santos now had enough confidence in the market and the ability to execute the project to develop Barossa. The Barossa project, which will supply 20 more years of gas for the 3.7 million tonnes-a-year Darwin LNG project, represents the biggest new investment in Australia’s oil and gas sector since 2012. Santos has defied warnings from pressure groups of the faster demise of demand for natural gas amid the push towards net-zero emissions and given the go-ahead for the $US3.6 billion ($4.7 billion) development of the Barossa gas field off Australia’s northern coast.
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