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    Oz GLNG Hits Milestone

Summary

Santos operated GLNG project has reached a milestone.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, Exploration & Production, Import/Export, CBM, Contracts and tenders, Liquefied Natural Gas (LNG), News By Country, Australia

Oz GLNG Hits Milestone

Santos operated GLNG project has reached a milestone, shipping its 200th LNG cargo from Curtis Island near Gladstone in Queensland to South Korea, Santos said June 7. The vessel, YK Sovereign, docked at the Incheon terminal June 4.

“For the next two decades, the International Energy Agency expects natural gas to grow more than any other energy type, to a market share of more than a quarter of all global energy demand,” Santos CEO Kevin Gallagher said. “Population growth, rapid urbanisation and the need to clean up air pollution across Asia will drive demand for Australian LNG.”

He said that the GLNG project is investing around A$900mn ($614mn) in upstream production infrastructure this year.

“Santos is drilling a record 300 wells in Queensland this year.  More gas production increases total east coast supply which is good for both the domestic gas market and LNG exports. As a proud Australian company, Santos is committed to ensuring the domestic gas market is adequately supplied and is set to deliver around 70PJ to the east coast domestic gas market this year,” he said.

GLNG exported its first load of LNG in October 2015. The joint venture arrangement is Santos 30%; Petronas 27.5%; Total 27.5%; and Kogas 15%.