A South Korean company has signed an agreement with Santos to buy 3.5 million tonnes of liquefied natural gas from Queensland each year.
KOGAS will take a 15% stake in the Gladstone LNG project and French company Total has also increased its stake by 7.5%.
The ABC reports the project will source gas from the Surat Basin and the Bowen Basin in north Queensland.
The gas would be piped to central Queensland for processing.
