Moody's: Santos plans growth

Moody's Investors Service said Santos Ltd.'s (prime-2) participation as a co-venturer in the PNG LNG Project with an equity interest of 13.5% is a key plank in its growth strategy.

Santos' share of output from the project is estimated at about 9 million barrels of oil equivalent per annum at the peak of production, Moody's said.

On the other hand, projects such as this one and the company's significant Gladstone LNG project have considerable scale and complexity, the agency said, and could materially change its risk profile.

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