Australia’s Santos seeks CCS projects in PNG
- Date: 02-Dec-2021
- Source: Argus Media
- Sector:Real Estate
- Country:Gulf
Australia’s Santos seeks CCS projects in PNG
Sydney, 2 December (Argus) — Australian independent Santos will seek carbon capture and storage (CCS) opportunities in Papua New Guinea (PNG) as part of its 2040 net zero plan and to offset emissions from its upstream activities on the Pacific island nation.
The pursuit of CCS projects in PNG was one of several pledges made by Santos chief executive officer Kevin Gallagher at the 2021 PNG Mining and Petroleum Conference held virtually in Port Moresby and Brisbane, Queensland ahead of a key shareholder vote and PNG court hearing on the A$21bn ($14.92bn) merger between Santos and fellow Australian independent Oil Search.
Santos plans to apply for a secondary listing on PNG's National Stock Exchange (NSX), where Oil Search has a listing for its 4,000 shareholders located in PNG, Gallagher said. Santos will also seek to appoint a PNG-based director to the Santos board of directors to reflect the importance of PNG to the merged Santos group, he said.
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