Santos Limited (ASX: STO) has announced that the GLNG project participants have executed an agreement with AGL Energy for the purchase of 254 petajoules of gas for supply to the GLNG project.
The gas will be delivered at Wallumbilla over a period of 11 years commencing in January 2017, with pricing based on an oil-linked formula.
The gas will be sourced from coal seam gas fields in Queensland.
Santos has a 30 per cent interest in the GLNG project.
Santos reported a net profit of $37 million at 30 June 2015.
