LNG

April 30 (LNGJ) – Australian LNG exporter Santos has completed the sell-down of a 25 percent interest in the Bayu-Undan gas field and Darwin LNG to South Korea’s SK E&S, which is also a partner in the Barossa offshore gas project. “The sell-down resulted in net funds to Santos of US$186 million at completion, being the sale price of US$390m less the cashflows from the 25 percent interests ,” said Santos. “The sell-down to SK E&S is in line with our strategy of disciplined growth while maintaining a strong balance sheet by managing equity levels in our growth projects,” said Santos Chief Executive Kevin Gallagher.