STO 0.13% $7.66 santos limited

Santos will vigorously defend Federal Court proceedingsSantos...

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    Santos will vigorously defend Federal Court proceedings

    Santos respects the cultural heritage of the Tiwi people and while we understand and respect there are a range of views about the Barossa gas project, we will vigorously defend Federal Court proceedings commenced by the Environmental Defenders Office on behalf of Mr Simon Munkara.

    The Environment Plan (EP) for the gas export pipeline (GEP) installation was accepted by the regulator NOPSEMA in March 2020. Santos has, at all times, complied with the applicable regulations and requirements stipulated by NOPSEMA, and the regulator has monitored that compliance.

    Santos rejects the allegations in the application that there are significant environmental impacts or risks in relation to submerged Tiwi cultural heritage.

    Provided the GEP pipelay is completed in 2023, and drilling activities commence before the end of the year, guidance to the market on Barossa cost and schedule remains unchanged.

    In the event any injunction is granted, Santos will need to assess any impact on the schedule and cost of the Barossa Gas Project and will update the market accordingly.


    Background
    The Barossa GEP will run from the Barossa gas field 262 km offshore along a narrow underwater corridor. The pipe has a maximum diameter of 86 cm and will lay directly on top of the seafloor in water depths ranging from 33 to 254 metres. There will be no excavation of the seabed. At its closest point to land, the pipeline will be more than seven kilometres offshore from Bathurst Island in Commonwealth waters where the water depth will be around 70 metres.

    Surely reason will prevail. Ridiculous that we have to go to Court to defend a spurious claim funded ultimately by our Government. All IMO DYOR
 
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