Santos raises another $420m for Gladstone LNG project  

Posted by Big Gav in ,

Adelaide Now has an update an Santos's coal seam gas to LNG plant planned for Gladstone - Santos raises another $420m for Gladstone LNG project.

SOUTH Australian oil and gas major Santos has raised another $420 million in funding for its Gladstone liquefied natural gas project.

The new funding through the Euro hybrid market brings the total amount of hybrid capital raised by Santos in the market to more than $1.4 billion since September this year.

The follow-on issue represents another significant step towards funding Santos' share of the GLNG project, with a planned final investment decision before the end of the year. ...

French company Total recently bought a 15 per cent stake in the GLNG project for $650 million.

The coal seam gas project had also secured more than $100 billion of contracts, making it one of the largest export deals in Australia's history.

Santos has yet to publish an estimate of the cost of building GLNG but analysts forecast it will cost about $16 billion.

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