Finance
Australia's Santos commits Narrabri gas for domestic supply in deal with ENGIE
Published by Global Banking & Finance Review®
Posted on August 4, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 4, 2025
1 min readLast updated: January 22, 2026
Santos commits to supplying ENGIE with gas from its Narrabri project, pending a final investment decision, to support Australia's domestic market.
(Reuters) -Oil and gas producer Santos on Monday said it will supply utility firm Engie 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)
(Reporting by Sneha Kumar in Bengaluru; Editing by Lincoln Feast.)
Santos will supply ENGIE with up to 20 petajoules of natural gas per year from its Narrabri project.
The Narrabri gas project is estimated to cost A$3.6 billion, which is approximately $2.33 billion.
The supply agreement is contingent upon Santos making a final investment decision on the project and other conditions.
The project is expected to alleviate energy supply constraints on Australia's east coast.
Santos has indicated that it plans to make its final investment decision by the end of this year.
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