Santos GLNG Ships First Cargo

Santos on Friday announced the first shipment of LNG from its $18.5 billion GLNG project has left Curtis Island bound for South Korea.

The first cargo is being carried by the Malaysian-owned LNG ship Seri Bakti and will be delivered to South Korea in the coming weeks.

“The first cargo from GLNG strengthens our position as a major and competitive LNG supplier to Asia,” Santos Managing Director and Chief Executive Officer David Knox said.  “GLNG is a robust project and will generate strong cash flows for the business for decades to come.”

Production from the first train commenced in September and work on the second train is continuing to progress well, Santos said, adding that Train 2 is expected to be ready for start-up by the end of the year with first LNG expected in the second quarter 2016.

GLNG produces natural gas from Queensland’s coal seams and converts it into LNG. It involves gas field development in the Surat and Bowen Basins, a 420-kilometre gas transmission pipeline and a two-train LNG plant on Curtis Island, near Gladstone which will have the capacity to produce 7.8 million tonnes of LNG per year when fully operational.

Santos is the operator and has a 30 percent interest in the project.