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Santos Limited ( (AU:STO) ) just unveiled an announcement.
Santos Limited has signed a non-binding memorandum of understanding with Orica for a potential domestic gas supply from the Narrabri Gas Project to Orica’s east coast manufacturing network. This agreement highlights the strong market interest in Narrabri gas, with Santos aiming to provide up to 15 PJ per year for up to 10 years, contingent on a final investment decision and regulatory approvals. The project is seen as a strategic initiative to enhance gas supply competition and reliability for east coast energy users.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$8.88 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
More about Santos Limited
Santos Limited is a prominent player in the energy sector, primarily focusing on the exploration and production of natural gas and oil. The company is committed to supplying domestic gas and has a strategic focus on the east coast market of Australia.
Average Trading Volume: 13,485,809
Technical Sentiment Signal: Buy
Current Market Cap: A$24.98B
See more insights into STO stock on TipRanks’ Stock Analysis page.