Santows plays politics over new Australian tax laws

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Santos Ltd, Australia's-second largest oil and gas producer, said it will defer for up to six months a decision on whether to build an LNG export terminal in Gladstone in Queensland state, as it assesses the impact of a proposed new tax, the Australian newspaper reported on Friday.

"I will make that decision in light of all the risks we face," Chief Executive David Knox said after a shareholder meeting in Adelaide, according to the newspaper.

"Obviously on Sunday afternoon, with the announced income tax, this is an additional risk which I am going to have to address and fully understand before I can come to a decision," Knox said.

He said a decision would be made by the end of the year, instead of by mid-year as previously planned, according to the newspaper.

Global miner Rio Tinto has also said it is reviewing its Australian operations after Canberra unveiled a hefty new 40 percent mining tax last weekend.