Santos to Book US$1.05 Billion Impairment Hit on LNG Project
August 14 2016 - 6:25PM
Dow Jones News
By Robb M. Stewart
MELBOURNE, Australia--Energy company Santos Ltd. (STO.AU) said
Monday it will book a US$1.05 billion after-tax impairment charge
in its coming half-year report against the carrying value of its
flagship GLNG gas-export project in eastern Australia.
The GLNG development, which counts France's Total SA (TOT) and
Malaysia's Petronas Gas Bhd. (60033.KU) as partners, at Gladstone
in Queensland state shipped its first cargo of liquefied natural
gas in late 2015.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
August 14, 2016 19:10 ET (23:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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