STOSF - Australian court rejects approval of Santos' $3.6B Barossa natural gas project

An indigenous Australian clan scored a landmark legal win Wednesday when a judge threw out a regulator's approval of Santos' ( OTCPK:STOSF ) $3.6B Barossa natural gas development project, in a case that is seen having a potentially important impact on how resource companies handle relations with traditional landowners.

The case was brought by traditional landowners from the Tiwi Islands off the northern Australia coast who argued the regulator, the National Offshore Petroleum Safety and Environmental Management Authority, should not have approved the drilling because Santos failed to properly consult the clan on its impact.

Santos ( OTCPK:STOSF ), which has said it undertakes consultation with all key stakeholders for all of its projects, said it plans to appeal the ruling and will seek fresh approval for the project.

Santos ( OTCPK:STOSF ) targeted H1 2025 for first gas production when it made a final investment decision on the project last year .

For further details see: