Sydney Morning Herald: Santos Looking for Investor into Narrabri Coal Seam Gas Venture

Santos is negotiating with gas ­buyers, manufacturers and international companies as it seeks to sell about 30 per cent of its proposed $2 billion Narrabri coal seam gas venture in NSW.

"We are in active conversations with a number of parties," James ­Baulderstone, Santos vice-president eastern Australia, said.

"There won't be a project unless there are more investors coming in. The question is when, and how and where you go about it."

The move to sell down its 80 per cent stake in the controversial Narrabri project pre-dates the oil price slump that has forced Santos to consider asset sales. Mr Baulderstone said that a stake of about 50 per cent was always seen as more appropriate for the project.

However, the oil price collapse had posed "challenges" to the sell-down negotiations, as the parties involved wrestled with a variety of views on long-term prices, he said. MORE