Australia’s Santos in its investor briefing revealed it has already pre-sold 13 commissioning cargoes from its Gladstone LNG project on Curtis Island.
These cargoes will be produced during the commissioning of the GLNG project, and after that, the LNG project will start supplying the chilled gas to Kogas and Petronas as part of the 20-year contracts.
According to Santos, the GLNG project is about 90% complete and on track for first LNG in the second half of 2015. The LNG project also remains within the $18.5 billion budget.
Santos also reported that the company’s year to date production stands at 39 mmboe with the fourth quarter guidance expected at 14-16 mmboe.
The company predicts the 2015 production to rise to 57-64 mmboe, a growth driven by PNG LNG at plateau and GLNG start-up.
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LNG World News Staff; Image: Santos GLNG