Santos boosts LNG sales, production in Q1

Australia’s Santos increased its sales of liquefied natural gas (LNG) in the first quarter as it boosted production at its GLNG plant on Curtis Island.

Santos operates the GLNG project with a 30 percent stake and holds equity in the Darwin LNG project, and PNG LNG in Papua New Guinea.

Santos said in its first-quarter report on Thursday its LNG sales volumes rose 9.8 percent year-on-year to 729 million mt.

LNG sales revenue was $272 million for the quarter under review, up 26 percent as compared to $216 million in the year before. Average LNG price was at $7.09 per mmBtu.

GLNG production increased to 1.37 million mt or 21 cargoes for the quarter as strong upstream performance from Fairview and Roma fields boosted equity gas supply, Santos said.

GLNG produced 43 percent of the 1.37 million mt exported from the Curtis Island plant during the quarter from its Queensland coal seam gas fields. Santos bought more than half of GLNG feed gas from third parties.

The company also plans to shut down both of the plant’s trains for maintenance.

“The planned statutory inspection shutdown of LNG train 2 is planned to commence in June and a scheduled maintenance shutdown of LNG train 1 is planned to commence in July,” Santos said in the report.

LNG World News Staff