QatarEnergy Buying and selling LLC (QET), the LNG buying and selling arm of state-owned QatarEnergy, has contracted Australia’s Santos Ltd. for the availability of 500,000 metric tons a yr of the super-chilled gasoline for 2 years.
Supply will begin 2026 on an ex-ship foundation. The cargos will probably be sourced from Santos’ portfolio, it stated in a press launch.
“Santos’ portfolio of high-quality, tier-one clients now includes, Hokkaido Fuel Co., Ltd, Shizuoka Fuel Co. Ltd, TotalEnergies Fuel & Energy Asia Restricted, Glencore Singapore Pte Ltd, Mitsubishi Company, PETRONAS, KOGAS, Osaka Fuel, JERA, Sinopec (Unipec Asia Co Ltd), CPC Company, and now QET”, Santos stated. “The portfolio is round 90 per cent contracted and round 85 p.c oil-linked on common between 2025-29.
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“Common contract pricing throughout the entire portfolio is estimated at round 14.7 p.c slope to Brent over 2025 to 2027… Santos can ship incremental margin over and above the contracted pricing by leveraging the flexibleness of its fairness lifted volumes mixed with its portfolio of vacation spot provide contracts, using constitution LNG vessels”.
Santos managing director and chief government Kevin Gallagher stated, “This contract reinforces our potential to leverage our versatile LNG portfolio to realize nice outcomes for Santos and our clients. It additional enhances current mid-and long-term LNG Gross sales and Buy Agreements, underscoring Santos’ strong LNG portfolio and robust buyer relationships within the area”.
“We proceed to see very sturdy demand in Asia for top heating worth LNG from tasks akin to Barossa and PNG LNG, in addition to for dependable regional provide”, Gallagher added.
Santos is progressing towards manufacturing within the Barossa Fuel Venture, which entails growing the namesake gasoline discipline offshore Australia’s Northern Territory to offer a brand new supply for the prevailing Darwin LNG facility.
Final month it stated the BW Opal floating manufacturing, storage and offloading vessel arrived on the discipline, conserving the undertaking on observe for start-up within the third quarter.
“5 wells of the six-well program have now been drilled with the fifth properly being ready for circulate testing. The ultimate properly is anticipated to be accomplished within the third quarter. Manufacturing from three wells can ship full manufacturing charges on the Darwin LNG plant if required”, Santos stated June 18.
“The 262 km Fuel Export Pipeline and 123 km Darwin Pipeline Duplication are full, along with subsea infrastructure required for first gasoline”.
“As well as, the Darwin LNG life extension work scope, in help of the Barossa LNG undertaking, is on observe to be accomplished early within the third quarter of 2025, with work now 90 per cent full”, Santos stated.
Santos operates the Barossa Fuel Venture with a 50 p.c stake. South Korean metropolis gasoline distributor SK E&S owns 37.5 p.c. Japanese utility JERA Co. Inc. holds 12.5 p.c.
To contact the creator, electronic mail jov.onsat@rigzone.com
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