GDF Suez, Santos Abandon Proposed Bonaparte Floating LNG Project

Santos and GDF Suez on Thursday announced they have abandoned the proposed Bonaparte floating LNG project off the coast of Darwin, Australia.

“While the partners firmly believe the fields have material value, having been fully appraised, their future development using floating LNG technology, although technically robust as demonstrated during extensive pre-FEED studies, does not currently meet the companies' commercial requirements,” the companies said.

The project has been under study for almost three years and expected to produce 2.4 million tonnes a year of LNG upon completion. The fuel was intended for the Asia-Pacific market with first LNG expected in 2019. 

The Bonaparte LNG project will consider other potential development options in addition to the floating LNG concept to develop the Petrel, Tern and Frigate natural gas fields, located 250 kilometres offshore west of Darwin, they said.

These options will include a pipeline connection to Darwin.

GDF Suez is 60 percent owner and operator of the Bonaparte project, while Santos owns 40 percent.