LNG

Feb 1 (LNGJ) - Australian LNG developer Santos has agreed to an amendment to a sale agreement with Papua New Guinea company Kumul Petroleum Holdings whereby Kumul will take a 2.6 percent shareholding in the PNG LNG stake owned by Santos.

   Santos said that Kumul had paid US$352 million to Santos on 31 January 2024 to allow partial completion of the transaction. “The amendment provides additional time for Kumul to pay the remaining purchase price of US$241M,” added Adelaide-based Santos.