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Hastings Diversified Utilities Fund (ASX:HDF) has signed a $400 million deal with Santos (ASX:STO).
The deal will see Santos shift its Cooper Basin gas from Central Australia to liquefied natural gas at Gladstone in Queensland through pipeline operator Hastings group.
The agreement will commence in 2014 for a 15 year period.
Separately, Hastings continues to reject the takeover offer of APA Group (ASX:APA) who already have a 20.7 per cent stake in the company.
The offer expires on 31 May.
Hastings Diversified reported net loss of $29.9 million for its full year to December 31 , 2011.
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| Open | High | Low | Value | Volume |
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