SYDNEY, Dec 24 (Reuters) - Australia's AGL Energy (AGL) has agreed to sell 254 petajoules of gas to Santos Ltd (STO) and its partners for the $18.5 billion Gladstone liquified natural gas project (GLNG), AGL said on Thursday.
The Santos-led project is the second of seven new Australian developments putting the country on track to overtake Qatar as the world's top LNG exporter in the next three years.
The gas, sourced from coal seam gas fields in Queensland, will be supplied over a period of 11 years, beginning January 2017 with pricing based on an oil-linked formula, AGL said in a statement.
This is AGL's third sale of gas from its wholesale gas portfolio and the first long-term sale to the GLNG project.
Keyword AGL ENERGY LNG/
News: Australia's AGL to sell gas to Santos-led Gladstone LNG project
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