Santos signs mid-term LNG supply contract

Moscow, October 2 - Neftegaz.RU. Santos today announced the signing of a mid-term LNG supply contract with TotalEnergies Gas & Power Asia Private Limited (TotalEnergies).

The contract is to supply 20 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum over a period of 3 years plus one quarter.
The contract will commence in Q4 2025 with LNG being supplied from Santos’ global portfolio of world-class LNG assets on a delivered ex-ship basis.

Santos Managing Director and Chief Executive Officer K. Gallagher said the contract with TotalEnergies is a new LNG relationship for Santos and builds on our existing joint venture partnerships:

• this oil indexed contract, along with the recently executed long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan, and the mid-term contract with Glencore, demonstrates Santos’ strong LNG portfolio position and customer relationships in the region;
• our portfolio is nicely balanced over the short to medium term with around eighty percent of volumes indexed to oil price and around twenty percent exposed to spot pricing;
• there continues to be extremely strong demand in Asia for high heating value LNG from projects such as Barossa and PNG LNG as countries focus on reducing their carbon emissions;
• Santos is committed to supporting the energy security of our valued customers across Asia, where gas will play an essential role in decarbonisation efforts across the region.