Home / Business and Economy / Santos Seals Major LNG Deals with POSCO & Western LNG
Santos Seals Major LNG Deals with POSCO & Western LNG
15 Sep
Summary
- Santos signed a 10-year LNG supply deal with POSCO Steel.
- A 20-year LNG purchase agreement was made with Western LNG.
- The deals diversify Santos' global LNG portfolio for Asian markets.
Australian energy firm Santos announced on Tuesday it has entered into key liquefied natural gas (LNG) agreements. A 10-year "delivered ex ship" supply deal has been established with POSCO Steel, with deliveries sourced from Santos' global portfolio expected to commence between 2030 and 2031.
Furthermore, Santos has entered into a 20-year "free-on-board" purchase agreement with Western LNG. This agreement involves the acquisition of approximately 1 million metric tons per annum (mtpa) of LNG from the proposed Ksi Lisims project in British Columbia, Canada. Supply is anticipated to begin around 2031.
The Ksi Lisims project is a planned 12-mtpa floating LNG export facility situated in British Columbia on land owned by the Nisga'a Nation. Santos' leadership highlighted that these agreements underscore the company's continuous expansion and diversification within its worldwide LNG operations, aimed at meeting the increasing energy requirements of Asian clients and collaborators.
