Australia's Santos inks gas supply deal with Norwegian fertilizer giant Yara [Reuters]
YARA INTL ASA S/ADR (YARIY)
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Source: Reuters
International (YAR.OL) to supply natural gas to the Norwegian fertiliser giant's liquid ammonia plant in Western Australia. Santos said it would also work with Yara Pilbara Fertilisers to explore decarbonisation opportunities in Western Australia (WA), including carbon capture and storage. Santos will supply over 120 petajoules (PJ) of natural gas over five years, starting at the completion of its current agreement with Yara in 2023, the country's no. 2 independent gas producer added. Santos supplies around 40% of the state's total domestic demand, "and we are committed to ongoing investment in developing new gas supplies in WA," Chief Executive Officer Kevin Gallagher said. Santos shares inched 0.1% lower in early trade, with the domestic energy sub-index (.AXEJ) dropping about 0.5% by 1215 GMT. Reporting by Indranil Sarkar in Bengaluru; Editing by Rashmi Aich Our Standards: The Thomson Reuters Trust Principles.
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