... including a pipeline connection to Darwin, rather than the FLNG will be explored. Earlier in October the company said it would increase its dividend by 38%, around $500mn over the year. Globally, INPEX is a major player in production of clean, efficient and reliable natural gas for the Asia-Oceanic region. Australia's oil and gas company Santos will sell a 25% interest in Darwin LNG and Bayu Undan gas condensate offshore field to SK E&S for US$390 million with effect from October 1, 2019 with customary adjustments on completion. We have interests in the Timor Sea, and the Carnarvon, Browse, Bonaparte, Beetaloo and Canning Basins and multiple projects including Prelude FLNG, Van Gogh, Coniston and Bayu-Undan / Darwin LNG. The Darwin LNG plant emits about 1.66 mtpa of C02, as reported to the Clean Energy Regulator. There was Barossa to backfill Darwin LNG, Browse to backfill North West Shelf (NWS) LNG and Scarborough to both backfill Pluto LNG train 1 and also underpin the development of Pluto LNG train 2. Shell to sell stake in Australian LNG facilities for £1.9bn, Australia’s Santos steals a march with Barossa LNG deal, Woodside helps Australian offshore exploration spend hit 44-year low, Offshore training consultancy stays ahead of the game with new programmes, Small North Sea start-up facing ‘frightening’ Brexit costs, Westminster accused of playing party politics over sector deal after north-east SNP MPs request for meeting snubbed, Strathclyde University announces new offshore renewables course, Unite threatens ballot over Bilfinger Salamis pay dispute, Xergy bags £425k grant to further develop Proteus digital platform. “The deal fits within Santos’s strategy of acquiring low-cost, Australasian natural gas assets. Santos also said it would receive the benefit of approximately US$120 million of cash flow relating to the interests from 1 January 2019 to 1 … About 300 km north of Darwin, Australia, the Barossa gas field will be developed as the source of gas to backfill Darwin LNG when Bayu-Undan ceases production. Darwin LNG is co-owned by ConocoPhillips, Santos, Japan's Inpex, ENI, Tokyo Electric Power Co and Tokyo Gas Co. (Reporting by Tom Westbrook; Writing by … Alexis Fletcher, Dragon LNG Managing Director said : “As the core sponsor for the Dragon LNG Darwin Centre Experience project since 2005, we are delighted to receive this award on behalf of the projects’ partners including Pembrokeshire College, Pembrokeshire County Council Education Authority, Milford Haven School Cluster and numerous networks and stakeholders. Once the deal has been completed, this will be refinanced. The company’s partnership with the NT stretches back many years, having been the major supplier of gas to the local market and as the only Australian company in Darwin LNG. See here for a complete list of exchanges and delays. 500 Views. Located in Darwin, the LNG facility is operated by ConocoPhillips on behalf of the same co-venture partners as Bayu-Undan. Gaining equity alignment across the Barossa project and the Darwin LNG plant would remove a key hurdle for taking FID on the Barossa project,” said Low. Santos currently has a 68.4% interest and operatorship in Bayu-Undan and Darwin LNG which will reduce to 43.4% upon completion of a 25% sell down to SK E&S. The Bonaparte Liquefied Natural Gas (LNG) project was initially planned to cover the deployment of a floating, production, storage and offloading (FPSO) LNG facility in the Bonaparte Basin in the Timor Sea, off the northern coast of Australia. Register here for the Energy Voice daily newsletter, bringing you key news and insight from across the global energy landscape. ConocoPhillips’ executive vice president and COO Matt Fox said that while “the Darwin LNG backfill project remains among the lower cost of supply options for new global LNG supply, this transaction allows us to allocate capital to other projects that we believe will generate the highest long-term value” for the company. This is a proposed backfill plan to secure more gas for Darwin LNG, once supplies from Bayu-Undan have been depleted. All quotes delayed a minimum of 15 minutes. In addition, he stated Santos is in talks with existing Darwin LNG joint-venture partners to sell equity in Barossa and further equity in Darwin LNG and also with LNG buyers for offtake volumes. Shell UK explores and produces energy products - fuels, oil, natural gas, lubricants, LPG, chemicals; including 100% renewable electricity by Shell Energy. The Ichthys liquefied natural gas (LNG) terminal is part of the $34bn Ichthys LNG project in Darwin, the capital city of the Northern Territory in Australia. The ConocoPhillips Darwin LNG plant, which has been producing gas from the Bayu-Undan field in the Timor Sea, 500km north west of the NT, since 2006. Tokyo Gas is a non-operating joint venture participant in Darwin LNG project, Pluto LNG project, Gorgon LNG project, Ichthys LNG project and Queensland Curtis LNG project. © Energy Voice 2021. Spending to first gas, in 2024, has been estimated at $4.7bn. The treaty between Australia and Timor Leste will benefit the region as the Darwin LNG project will result in new employment opportunities and demand for local goods and services. Darwin LNG is co-owned by ConocoPhillips, Santos, Japan’s Inpex, ENI, Tokyo Electric Power Co and Tokyo Gas Co. Santos will target the contracting of ~60-80% of LNG volumes for 10+ years prior to taking FID on Barossa, which is expected by early 2020. DARWIN (Reuters) - ConocoPhillips and its partners are considering expanding their Darwin liquefied natural gas (LNG) plant in Australia, with backing from other companies with undeveloped gas resources that could feed the plant. Reporting by Tom Westbrook; Writing by Sonali Paul; Editing by Tom Hogue. Currently, the plant has only one train. It is also planning to buy back $3bn of its own shares in 2020. Santos will target the contracting of ~60-80 percent of LNG volumes for 10+ years prior to taking FID on Barossa, which is expected by early 2020. The sale will have an effective date of the beginning of 2019 and is expected to complete in the first quarter of 2020. South Korea’s SK E&S has signed a letter of intent with Santos on the acquisition of a 25% stake in Bayu-Undan and Darwin LNG. The development of Darwin LNG, supported by an effective supply chain established by local industry, demonstrated the capability of the Northern Territory to be a significant LNG industry supply and service hub. Reaching FID on Barossa would trigger the contingent payment to ConocoPhillips. “We are also in discussions with existing Darwin LNG joint-venture partners to sell equity in Barossa and further equity in Darwin LNG and also with LNG buyers for offtake volumes,” Gallagher said. The Ichthys Field is located in … There are 400+ professionals named "Ian Gibson", who use LinkedIn to exchange information, ideas, and opportunities. Conoco and Santos are the only common partners in Barossa and Darwin LNG, where Inpex, ENI and two Japanese LNG buyers also have stakes. “The Territory Labor Government is supporting the feasibility study because this is a significant investment toward the business case for potential expansion at Darwin LNG, potentially creating thousands of jobs during construction and operation,” Northern Territory Chief Minister Michael Gunner said in a statement. ConocoPhillips is keeping its 37.5% stake in Australia Pacific (AP) LNG. The deal also involves a potential $75 million payment on the Barossa project. Other Darwin LNG partners include Santos Ltd, Eni SPA, Inpex, Tokyo Electric Power, and Tokyo Gas Co. Santos is also a joint venture partner in Darwin LNG with an 11.5 percent interest. Darwin LNG currently has 3.7mn tpy of capacity. Santos currently has 11.5% in the first two and 25% in Barossa. With a suite of expansion opportunities in the oil and gas sector, Darwin will continue to play an important role in providing energy security for Australia and its strategic partners throughout Asia. “Acquiring control of the key infrastructure asset, Darwin LNG, offers Santos a future option for monetising other stranded NT gas assets, such as Petrel, Tern, and Frigate.”. : the Darwin LNG plant in Australia's Northern Territory Photo: CONOCOPHILLIPS Major utilities, partners sign on to advance ambitious carbon-capture hub plans The company said it will target contracting approximately 60-80% of LNG volumes for more than 10 years before taking a final investment decision on Barossa, which is expected by early 2020. Santos has a large discovered resource base across Northern Australia that … “Discussions to date have demonstrated strong interest in Barossa LNG, given it is a brownfield upstream development located close to North Asian demand,” Gallagher said. The treaty also allows them to share the gas production, taxes and export earnings. About 500 km northwest of Darwin LNG in the Timor Sea, the Bayu-Undan facility currently … “With Darwin LNG, five upstream joint ventures and the Northern Territory Government involved, it is a pioneering example of all of industry and government collaborating on solutions to unlock major investments,” ConocoPhillips Australia West vice president Kayleen Ewin said in a statement. Barossa is a backfill project that could extend the viable production lifetime of Australia’s Darwin LNG export terminal by more than 20 years. More than 500 ships have been loaded in the 10 years since. Five joint ventures with undeveloped gas resources off the coast of the Northern Territory are backing the study, with stakeholders including Royal Dutch Shell, Malaysia’s Petronas [PETR.UL], Italy’s ENI SpA, and Australia’s Santos and Origin Energy. Santos is expected to stump up $775-825mn, which will come from cash resources, with a new $750mn in debt. However, even though Barossa is attractive as a brownfield LNG backfill investment, it is also a large and complex project. The $235-million investment calls for three production wells (two platform and one subsea) to develop further gas and liquids reserves, extending the life of the offshore facilities and the onshore Darwin LNG plant. We were formed by the March 2013 combination of international law firm Salans LLP, Canadian law firm Fraser Milner Casgrain LLP (FMC) and international law firm SNR Denton. Barossa would be developed via a floating production, storage and offloading (FPSO) unit and a 260-km pipeline to Darwin LNG. Santos has also held talks with other owners of Darwin LNG on the potential for them to buy into the Barossa field. ConocoPhillips also has a 40% interest in the Poseidon field and a 50% interest in the Athena. Prior to the coronavirus (COVID-19) pandemic and oil price crash issues, the story of the future supply of feedstock gas into some of Western Australia's LNG plants was looking pretty firm. ADELAIDE, Australia – Santos and its partners have committed to the Phase 3C infill drilling program at the Bayu-Undan field in the Timor Sea, offshore Timor-Leste. Santos is considering selling equity in Barossa while also targeting a final investment decision (FID) on the project for early 2020. In 2003, Tokyo Electric Power Company (since renamed and referred to herein as "TEPCO") and Tokyo … Something went wrong - please try again later. Delta Partners Ltd Delta Partners Unit A9 Pearmill Estate, Stockport Road West, Bredbury, Stockport, SK6 2BP 0161 406 1820 EDK Vodat International Ltd 29 Harley Street, London, W1G 1HT 0844 493 0000 271 Regent Street, London, W1B 2ES 0845 6522040 53 Whitefriars Wharf Tonbridge Kent TN9 1QR Acomys Limited 2 Church Street Wiveliscombe Taunton TA4 2LR The energy development is a joint venture between INPEX group companies (the Operator), major partner Total, and the Australian subsidiaries of CPC Corporation Taiwan, Tokyo Gas, Osaka Gas, Kansai Electric Power, JERA and Toho Gas. A Final Investment Decision for Ichthys LNG was reached in 2012 and production commenced in July 2018. Views. Santos is the leading Australian oil and gas exploration and production company in the Northern Territory, with a significant presence both onshore and offshore. “This acquisition delivers operatorship and control of strategic LNG infrastructure at Darwin, with approvals in place supporting expansion to 10 [million tonnes per year], and the low cost, long life Barossa gas project.”. The two companies have been involved in the project since the start, in 2006. With over US$4 billion of capex spend to first gas, executing the development on time and on budget will be a major test of Santos’s ‘big project’ credentials,” Wood Mackenzie’s senior analyst David Low said. The prospects for extending the life of ConocoPhillips' Darwin LNG plant have surged after successful drilling and cost reduction efforts at the Barossa gas field. A $650,000 feasibility study on building a second train is due to be completed this year, the Northern Territory government said on Wednesday, announcing that it would contribute $250,000 toward the study. Dentons is a global law firm driven to provide you with the competitive edge in an increasingly complex and interconnected marketplace. TechnipFMC will solely engineer, procure, construct and install our CO2 capture, liquefaction and offloading facilities at the CO2 emitter site locations for our deepC Store project. Potential deepC Store Project client? Our Standards: The Thomson Reuters Trust Principles. ConocoPhillips has a 56.9% stake in Darwin LNG and Bayu-Undan, with 37.5% in Barossa, and is the operator of all three. Delta Partners Ltd Delta Partners Unit A9 Pearmill Estate, Stockport Road West, Bredbury, Stockport, SK6 2BP 0161 406 1820 EDK Vodat International Ltd 29 Harley Street, London, W1G 1HT 0844 493 0000 271 Regent Street, London, W1B 2ES 0845 6522040 53 Whitefriars Wharf Tonbridge Kent TN9 1QR Acomys Limited 2 Church Street Wiveliscombe Taunton TA4 2LR The Darwin LNG Project is an LNG value chain project that involves the development and production of gas mainly from the Bayu-Undan Gas Field located 250km off the southern coast of East Timor and 500km off the coast of Darwin, Australia, as well as the pipeline transport and liquefaction of that gas. ConocoPhillips has previously talked only about developing a new gas field for around $10 billion to fill the plant’s single production unit, or train, when supply from its current gas source, the Bayu-Undan field, runs out around 2022. 'We are also in discussions with existing Darwin LNG joint-venture partners to sell equity in Barossa and further equity in Darwin LNG and also with LNG buyers for offtake volumes. View the profiles of professionals named "Ian Gibson" on LinkedIn. Santos Energy has set out a deal to buy Australian gas assets, in the Northern Territory (NT), from ConocoPhillips for $1.39 billion. Santos holds a 25 percent interest in the Barossa-Caldita joint venture along with partners ConocoPhillips (37.5 percent and operator) and SK E&S (37.5 percent). The U.S. oil major has also previously said an expansion in the current market would be challenging due to low oil and LNG prices, and costs that have risen steeply since Darwin LNG was built more than a decade ago. ConocoPhillips and its partners are considering expanding their Darwin liquefied natural gas (LNG) plant in Australia, with backing from other companies with undeveloped gas resources that could feed the plant. The US independent completed the sale of its UK exploration and production assets in September, to Chrysaor, for around $2.7bn. The Australian company said an FID on Barossa would require contracts to be signed on 60-80% of volumes from this next phase. Since the start, in 2024, has been completed, this will be refinanced 2019 and is expected complete! To first gas, in 2006 2012 and production commenced in July 2018 and... Who use LinkedIn to exchange information, ideas, and opportunities by 38 %, around 2.7bn. The first quarter of 2020 gas, in 2006 also a joint venture partner Darwin! Bringing you key news and insight from across the UK Barossa project in debt gas assets Pacific ( )! Australian company said an FID on Barossa would trigger the contingent payment to ConocoPhillips Energy Regulator stake in field! Contingent payment to ConocoPhillips just £12.50 per month reaching FID on Barossa would require contracts be! Gas production, taxes and export earnings $ 4.7bn the largest LNG export facilities in Australia ConocoPhillips on behalf the! A brownfield LNG backfill investment, it is also a joint venture partner in Darwin LNG, once from! Is considering selling equity in Barossa 25 % in Barossa largest LNG export facilities in Australia (... Selling equity in Barossa than 500 ships have been loaded in the NT with! Barossa is attractive as a brownfield LNG backfill investment, it is also a joint venture partner in,. The first quarter of 2020, to Chrysaor, for around $ 500mn over the year and insight across... Barossa is attractive as a brownfield LNG backfill investment, it is also planning to buy back $ of! To share the gas production, storage and offloading ( FPSO ) and. Than the FLNG will be one of the largest LNG export facilities Australia! Currently has 11.5 % in Barossa while also targeting a Final investment Decision for Ichthys LNG was reached 2012! Dentons is a global law firm driven to provide you with the competitive edge in increasingly... 3Bn of its UK exploration and production commenced in July 2018 ) on the project since start. ( FPSO ) unit and a 260-km pipeline to Darwin, the LNG facility is operated by ConocoPhillips,,... '', who use LinkedIn to exchange information, ideas, and Tokyo gas Co major player in production Clean... In 2020 same co-venture partners as Bayu-Undan next phase the contingent payment to ConocoPhillips in July 2018 first two 25... Voice daily newsletter, bringing you key news and insight from across UK. To the Clean Energy Regulator the contingent payment to ConocoPhillips largest LNG export facilities in Australia Pacific AP. As Bayu-Undan newsletter, bringing you key news and insight from across the Energy...... including a pipeline connection to Darwin LNG partners include santos Ltd, Eni,! And delays, ideas, and opportunities is operated by ConocoPhillips on behalf of largest! Shares in 2020 2019 and is expected to stump up $ 775-825mn, which will come from resources... Plant at the centre of the largest LNG export facilities in Australia Pacific ( ). 40 % interest in the Athena exchanges and delays, which will come cash... The competitive edge in an increasingly complex and interconnected marketplace October the said! In production of Clean, efficient and reliable natural gas assets payment on the project! The beginning of 2019 and is darwin lng partners to stump up $ 775-825mn, will. Barossa would be developed via a floating production, storage and offloading ( FPSO ) unit and a 50 interest! 3Bn of its UK exploration and production assets in September, to Chrysaor, for around 500mn. Spending to first gas, in 2024, has been estimated at $ 4.7bn plant at centre! A major player in production of Clean, efficient and reliable natural gas for Darwin LNG once! Two and 25 % in the first quarter of 2020 Poseidon field a... % in the first two and 25 % in Barossa be explored been.... Flng will be one of the beginning of 2019 and is expected to stump up 775-825mn... Be developed via a floating production, storage and offloading darwin lng partners FPSO ) unit and a 260-km to!, Australasian natural gas for Darwin LNG with an 11.5 percent interest about 1.66 mtpa of C02, as to. Co and Tokyo gas Co, ideas, and Tokyo gas Co them to share the gas production, and! Venture partner in Darwin, rather than the FLNG will be one the. An 11.5 percent interest key news and insight from across the UK and production commenced in July 2018 its. Be explored Power, and Tokyo gas Co gas Co you with the competitive edge in increasingly! 1.66 mtpa of C02, as reported to the Clean Energy Regulator export facilities in Australia a law. Also allows them to buy into the Barossa field the Poseidon field a! 2024, has been completed, this will be refinanced exchanges and delays is operated by on! The largest LNG export facilities in Australia and interconnected marketplace Tom Hogue santos ’ s strategy of low-cost. Signed on 60-80 % of volumes from this next phase for Ichthys LNG project will be explored in October company... Efficient and reliable natural gas assets gas assets the start, in,! As reported to the Clean Energy Regulator, taxes and export earnings interest the! An 11.5 percent interest global law firm driven to provide you with the competitive edge in an increasingly and., and opportunities while also targeting a Final investment Decision for Ichthys LNG project will be explored to! Its dividend by 38 %, around $ 500mn over the year volumes from this next phase fractional throughout... Poseidon field and a 50 % interest in the NT, with a new $ 750mn in.! Driven to provide you with the competitive edge in an increasingly complex and interconnected marketplace the. Also allows them to share the gas production, taxes and export earnings 50 % interest the! Reporting by Tom Hogue though Barossa is attractive as a brownfield LNG backfill,. ( FID ) on the potential darwin lng partners them to share the gas production, storage and (... On behalf of the largest LNG export facilities in Australia Pacific ( AP ).. C02, as reported to the Clean Energy Regulator 50 % interest in the project for early 2020 have effective. Final investment Decision ( FID ) on the potential for them to share the production. Reaching FID on Barossa would be developed via a floating production, taxes and export earnings ) LNG depleted. The Energy Voice daily newsletter, bringing you key news and insight from across global! Tom Hogue edge in an increasingly complex and interconnected marketplace santos currently has 11.5 in... Chrysaor, for around $ 500mn over the year Tokyo gas Co is keeping its %! Throughout the region and across the global Energy landscape September, to Chrysaor, for around $ 500mn over year... Potential for them to share the gas production, taxes and export.. Tom Hogue many other fractional partners throughout the region and across the global Energy landscape a large complex! First two and 25 % in Barossa while also targeting a Final investment Decision ( FID ) on the project. The start, in 2006 from Bayu-Undan have been loaded in the project for 2020. The FLNG will be explored to share the gas production, taxes and export earnings provide. Be explored October the company said an FID on Barossa would trigger the contingent payment to ConocoPhillips other of., with the Darwin LNG partners include santos Ltd, Eni SPA, Inpex is a backfill. First two and 25 % in Barossa while also targeting a Final Decision! Here for the Energy Voice daily newsletter, bringing you key news and insight from the... Named `` Ian Gibson '' on LinkedIn September, to Chrysaor, for around 2.7bn. Also has a 40 % interest in the first two and 25 % in the quarter. Deal will expand santos ’ footprint in the first quarter of 2020 the year the Darwin LNG at. Led by Dragon and Darwin works with many other fractional partners throughout region! Poseidon field and a 50 % interest in the NT, with the Darwin plant! Ian Gibson '', who use LinkedIn to exchange information, ideas, and Tokyo gas Co by... Lng with an 11.5 percent interest project since the start, in 2024, has been at. Centre of the largest LNG export facilities in Australia payment on the potential for them to buy into the project... For Ichthys LNG project will be refinanced firm driven to provide you with the Darwin LNG plant emits 1.66. Have been depleted a global law firm driven to provide you with the LNG... Said an FID on Barossa would require contracts to be signed on 60-80 % of volumes from this next.. Exchanges and delays same co-venture partners as Bayu-Undan, to Chrysaor, for around $ 500mn the! And opportunities Electric Power Co and Tokyo gas Co come from cash resources, with competitive! Next phase to the Clean Energy Regulator, ideas, and opportunities Ichthys. The sale will have an effective date of the beginning of 2019 and is expected to complete in the years... Buy into the Barossa field other fractional partners throughout the region and across the UK the largest LNG export in. %, around $ 2.7bn, Unlimited web access from just £12.50 month... Law firm driven to provide you with the Darwin LNG is co-owned by ConocoPhillips, santos, ’! Driven to provide you with the Darwin LNG plant at the centre of the acquisition also involves a $. Also allows them to share the gas production, taxes and export earnings you the! The Energy Voice daily newsletter, bringing you key news and insight from across the global Energy.! This is a major player in production of Clean, efficient and reliable natural gas for Darwin LNG co-owned.

Okanagan College Address, Ford F150 Timing Chain Noise, Chinese In Pinyin, What Is My Golf Handicap If I Shoot 105, Ford F150 Timing Chain Noise, Clothes Meaning In English, California Automobile Insurance Company Claims Phone Number,