Australia's Santos signs gas supply agreement for Whyalla Steelworks

February 19, 2026 9:01 PM EST

FILE PHOTO: A Santos logo is visible outside their headquarters in Adelaide, Australia, September 18, 2025. REUTERS/Hollie Adams//File Photo

Feb 20 (Reuters) - ‌Australia's Santos ​said ​on Friday it has signed an agreement with ‌the South Australian government to supply ⁠20 petajoules (PJ) of gas annually over ‌10 years to help ‌transform Whyalla Steelworks into a low-emissions green iron facility.

Santos said it ​will supply gas from its Cooper Basin assets from ⁠2030 and that the annual contract quantity represents ​around 30% of its current gas production from Cooper Basin.

"Santos ​gas will be used ‌to enable Whyalla to deploy direct reduced iron ⁠technology that can process local magnetite ore to produce low-carbon iron," Santos ⁠MD and CEO Kevin Gallagher said.

"This will ​keep jobs in Whyalla and the Cooper Basin, and reduce emissions by approximately ‌50% compared to the former coal-fired blast furnace operations."

Santos ‌announced a 10% headcount reduction ⁠with its ‌annual results on ​Wednesday.

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Subhranshu ‌Sahu)



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