antos will take a $1.05-billion writedown on its Gladstone LNG project due to rising prices for third-party gas supplies and slower-than-expected ramp up of its own equity output to feed the export project.
The non-cash charge on the liquefied natural gas (LNG) development in Queensland, which is $1.5-billion before taxes, will be recorded in its half-year results on Friday, the Adelaide-based company said in a statement Monday to the Australian stock exchange. The writedown won’t impact debt facilities, the country’s third-largest gas producer said.
