Finance in place for expansion of Darwin LNG

Oct. 10, 2024

Santos and its partners in the Darwin LNG joint venture have completed new syndicated bank loan facilities totaling $800 million.

Related To: Santos

Santos and its partners in the Darwin LNG joint venture (JV) have completed new syndicated bank loan facilities totaling $800 million.

CEO Kevin Gallagher said, “With these facilities in place, Darwin LNG is well funded to complete the life extension works scheduled for mid-2025, and it positions Darwin LNG to consider future expansion of this important infrastructure, including through the potential provision of third-party carbon capture services in Darwin.”

Jera describes the Darwin LNG Project as an LNG value chain project that involves the development and production of gas mainly from the Bayu-Undan gas field located 250 km offshore East Timor and 500 km offshore Darwin, Australia, as well as the pipeline transport and liquefaction of that gas.

The complex in Australia’s Northern Territory has been processed LNG for export to overseas markets since 2006.

Following the ending of LNG production from the Bayu-Undan field in the Timor Sea late last year, a program is underway to extend the plant’s design life of the plant and to provide gas processing and marine loading services to the Barossa JV.

The JV will supply feed gas from the Barossa gas and light condensate development, which is about 300 km north of Darwin in the Timor Sea.

The Darwin LNG gas field development project partners include Santos (36.5%), SK (21%), TIMOR Gap (16%), Inpex (9.6%), Eni (9.2%), JERA (5.15%) and Tokyo Gas (2.58%).

The Darwin LNG pipeline project and liquefaction project partners include Santos (43.4%), SK (25%), Inpex (11.4%), Eni (11%), JERA (6.13%) and Tokyo Gas (3.07%).