Santos shareholders rejoice, Peter’s got your back.
Not content with a ten-year guaranteed gas purchase from Santos, SA Prime Minister Peter Malinauskas is eliminating the risk of a $500 million upgrade of the pipeline. What is fraud?
The scam is the SA Government’s generosity in pre-paying for gas, which allows Santos to invest in the Moomba Central Optimization line, guaranteeing risk-free returns of up to almost 25% to Santos shareholders.
This is Santos self assessment The deal the SA Government is locked into ten years of gas purchase From the Central Fields project in the Cooper Basin.
But wait, there’s more, Santos also boasts that this development reduces Scope 1 emissions by “more than 40,000 tonnes of CO₂ equivalent per year.” According to Tim Buckley of Climate Energy Finance, “This is a huge number until you compare it with Santos’ 2025 Scope 1 and 2 net emissions of 3,810,000 tonnes” – that is 1.04%.
Whyalla rescue, gift from Santos. Is a multibillion-dollar fossil subsidy fest underway?
Kim Wingerei is a businessman turned author and commentator. He is passionate about freedom of expression, human rights, democracy and the politics of change. Originally from Norway, Kim has lived in Australia for 30 years. Author of ‘Why Democracy is Broken – A Blueprint for Change’.
