Oil and gas producer Santos, opens new tab on Monday said it will supply utility firm Engie, opens new tab with up to 20 petajoules of natural gas a year from its Narrabri project in New South Wales that has been entirely committed to the Australian domestic market.
Santos has yet to make a final investment decision on the A$3.6 billion ($2.33 billion) project so details including start date and pricing have yet to be agreed.
Earlier this year, Santos received approval from a tribunal to proceed with project, which is expected to ease energy supply constraints on Australia’s east coast.
Paris-listed Engie operates wind farms, large-scale batteries and gas-fired power stations, and provides energy services to commercial and industrial customers across Australia.
The supply agreement is subject to Santos making a final investment decision on the project, which it previously said it would make by the end of this year, among other conditions.
($1 = 1.5458 Australian dollars)
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