Santos announces clean start to GLNG venture
Adelaide-based Santos is expected to begin shipping to its Asian market within weeks as liquefied gas production starts at its $US18.5 billion GLNG venture on Curtis Island in Queensland.
Announcing the start of production on time and on budget, Santos managing director and chief executive officer David Knox said the company had achieved a significant milestone for its first operated LNG project.
“We said we’d produce first LNG around the end of the third quarter, and that’s exactly what we’ve done,” Knox said.
“Our upstream facilities are fully operational and performing well, we’re producing LNG on Curtis Island, and we’re now looking forward to safely delivering our first LNG cargo in the coming weeks.
“Project revenue is underpinned by binding long-term LNG sales contracts covering more than 90 per cent of the plant’s capacity.”
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GLNG is a pioneering venture which 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 per cent interest in the project.
Other co-venturers include Petronas (27.5%), Total (27.5%) and Kogas (15%).
