Santos (ASX:STO) received final environmental approval from Australia's offshore energy regulator for its AU$5.8 billion Barossa gas project, paving the way for first gas in the third quarter of the year, according to a Tuesday report by The Australian, citing the company.
The nod from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) follows a failed legal challenge by the Environmental Defenders Office and clears the last major hurdle for the Timor Sea development, per the report.
The Barossa project will supply gas to the Darwin LNG facility, the report added.
Construction is more than 95% complete, with key subsea infrastructure and pipeline work already finished, Santos said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.