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Summary

Santos Managing Director & CEO David Knox today addressed an event in Sydney on the importance of responsible operations within the Australian gas industry. The industry funds day was hosted by Citi and themed Who Votes Your Shares? Connecting Boards with Industry, Public Sector & Super Funds.

Santos Managing Director & CEO David Knox today addressed an event in Sydney on the importance of responsible operations within the Australian gas industry. The industry funds day was hosted by Citi and themed Who Votes Your Shares? Connecting Boards with Industry, Public Sector & Super Funds.

In his presentation, Developing Australia’s gas resources responsibly, David outlined the following five principles that “if applied across all onshore oil and gas operations, will work to greatly increase the confidence and trust of all our communities.”

  1. Operating safely
  2. Protecting the environment
  3. Treating people with respect
  4. Limiting our footprint
  5. Making a positive difference to communities

“For an energy company, and for my company – financial performance is far from the end of our story. What determines success, or failure for companies both locally and globally is also greatly dependent on gaining trust,” David said.

“The range of people who have an interest in how we do things, who are impacted by our operations – and who depend on that trust – is tremendously broad. [But] this is not about numbers. This is about people. There are farmers whose land we are operating on, customers who we have long-term agreements to deliver energy to, indigenous groups who are concerned about the impact our operations may have on their heritage, and governments who expect us to deliver a secure and affordable supply of energy to their state and indeed the nation.

“In fact all of these different people have expectations of Santos, and often high ones. And certainly these expectations are ones that we must meet, but my personal view is that our industry must do more than just meet those expectations, we must work to provide enduring and positive value to the communities in which we operate. This is a view that I hold to, that drives me, and it is a clear value that underpins our culture at Santos.

“Natural gas is fundamental to Australia’s economic prosperity. Today, more than 5 million homes use natural gas. Natural gas supplies nearly half of the energy needs of the manufacturing and construction sectors, and provides over one fifth of the generation capacity in the national electricity market.

“This importance of natural gas both for domestic use and for export markets is providing Australia with a large and growing market for our gas resources. And, the gas industry is responding to this opportunity in a way that will benefit the nation.

“The challenge is to ensure that we continue to develop those resources, and in a sustainable manner. To address this challenge requires a sustained effort from governments and operators to address community concerns. If we are able to do this, Australia will be the winner, and I am confident of this outcome.”