STOCD Santos Ltd

   By Robb M. Stewart 
 

MELBOURNE, Australia--AGL Energy Ltd. (AGL.AU) has struck a deal to sell natural gas to the Gladstone liquefied natural gas project, one of three massive gas-export venture ramping up production on Australia's east coast.

The gas will be supplied over an 11-year period beginning in January 2017, with pricing based on an oil-linked formula, the energy generator and retailer said Thursday.

It is AGL's first longterm gas sale to the GLNG project but the third sale from the company's wholesale gas portfolio to LNG projects in eastern Queensland state.

Santos Ltd. (STO.AU), which has a 30% stake in the GLNG project, separately said the purchase deal was for 254 petajoules of natural gas sourced from coal-seam gas fields in Queensland.

The project has shipped six LNG cargos since the first left the site in October.

France's Total SA (TOT) and Malaysia's Petroliam Nasional Bhd. each own 27.5% of GLNG, and South Korean utility Korea Gas Corp. the remaining 15%.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

December 23, 2015 17:36 ET (22:36 GMT)

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