Santos says it won’t ‘exert any effort’ on Narrabri gas project while it focuses on Beetaloo Basin
Summary
Santos will pause work on its Narrabri gas project in New South Wales while it waits for final approvals and instead focus on expanding its exploration in the Beetaloo Basin in the Northern Territory. The company will review the future of Narrabri after 2027 following appraisal of its Beetaloo reserves and plans fewer efforts on some eastern assets.Key Facts
- Santos CEO Kevin Gallagher said the company will not spend money or effort on the Narrabri gas project right now.
- The company is prioritizing exploration in the Beetaloo Basin, believing it has enough gas for over 50 years of supply.
- A strategic review found that Santos’ gas reserves in eastern Queensland and Western Australia’s Browse Basin are lower in priority.
- The Narrabri gas project still lacks some key approvals, including a production license and pipeline development permission.
- The project faces opposition from landowners and a legal challenge by Gomeroi traditional owners under native laws.
- NSW Premier Chris Minns supports the gas project, stating the state still needs gas alongside renewable energy targets.
- Opponents say delaying the project prolongs uncertainty and harms local communities, farmland, and water supplies.
- Santos continues to seek necessary regulatory approvals while focusing on its Beetaloo Basin activities.
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