Australia's Santos to supply LNG to Glencore Singapore (updated)
04/09/2024 04:43
(Adds details and background from paragraph 3 onwards)
Sept 4 (Reuters) - Australia's Santos STO.AX said on
Wednesday it had signed a mid-term liquefied natural gas (LNG)
supply contract with Glencore Singapore, a unit of London-listed
Glencore GLEN.L .
Under the contract, Santos will supply 19 LNG cargoes, or up
to approximately 0.5 million tonnes of LNG per annum over a
period of three years plus one quarter.
Australia's second-biggest independent oil and gas producer
said the contract would commence in the fourth quarter of fiscal
year 2025 with LNG being supplied from its global portfolio.
Santos in May signed a deal to supply 400,000 tonnes of LNG
every year for a decade starting 2027 to Japanese energy firm
Hokkaido Gas 9534.T .
"There continues to be extremely strong demand in Asia for
high heating value LNG from projects such as Barossa and PNG
LNG," Santos CEO Kevin Gallagher said in a statement.
The Australian government in May put out a strategy to boost
natural gas development despite its commitment to achieve net
zero carbon emissions by 2050, indicating soaring demand from
Asian partners.
(Reporting by Echha Jain in Bengaluru; Editing by Subhranshu
Sahu)
((Echha.Jain@thomsonreuters.com;))