Santos should come clean on Narrabri coal seam gas project’s future

MEDIA RELEASE – 12 December 2014

Santos should come clean on Narrabri coal seam gas project’s future

The Greens NSW mining spokesperson Jeremy Buckingham today called on Santos to come clean on their plans for the Narrabri coal seam gas project to give certainty to the local community, after the company announced it would slice $250 million from its $400 million expenditure budget for the project.

Under a MOU signed early in 2014, Santos were due to lodge their Environmental Impact Statement (EIS) on 30 June 2014, with a determination scheduled for 23 January 2015, however, Santos is still yet to lodge its EIS.

A sudden and significant drop in the world oil price has put a huge amount of pressure on Santos, with its value falling 40%, its credit rating dropped to BBB, and the profitability of its GLNG project in doubt.

“The people of the North West deserve to have some certainty, so the Greens are calling on Santos to make an announcement on the future of the Narrabri coal seam gas project in the context of the uncertain future for coal seam gas and Santos’ significant cuts to capital expenditure,” said Greens MP Jeremy Buckingham.

“The world gas and oil market is changing rapidly, and it is looking increasingly like CSG and LNG may resemble a giant Ponzi scheme.

“This project has caused enormous community concern and both the government and Santos have a responsibility to inform the public what is happening.

“Resources Minister Anthony Roberts should indicate whether the government still considers the Narrabri project a ‘Strategic Energy Project’, given the MOU timetable has fallen over, capital expenditure has been slashed, and any connecting pipeline is off in the Never Never,” he said.

Contact: Max Phillips – 9230 2202 or 0419 444 916

2 comments

  • Keep up the great work Jeremy, we know ,like us you are in it for the long haul. Our farm joins the Pilliga Forest, and both my wife and I have been arrested once and prepared to go again if we have to. Its just crazy that farmers have to do this!! Good on you and your team.

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  • Thanks for your care of the land and community, Jeremy, and thanks to the Robinsons and all the other farmers, protectors and indigenous traditional owners who are concerned enough about the land, air, water and the future to put themselves at risk. We will keep fighting, whatever the law does to us, because we are in the right and we are acting in self-defence.
    To Santos, don’t try and sell your Pilliga Project to anyone else, because they will only get the same treatment. There is no profit in this, because the people are against it. We can see what this toxic industry has done in the USA and in Queensland, so keep away from NSW.

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