Santos Achieves Major Milestone in Barossa Gas Project with First Condensate Export

Santos Limited has achieved a major milestone in its Barossa gas project by successfully loading the first condensate cargo onto a tanker for export to South Korea. The 300,000-barrel shipment was loaded onto the Aframax tanker Boccadesse on July 24, 2026, and will be processed at SK Incheon Petrochem's refinery to produce naphtha and jet fuel for regional markets.

The Darwin LNG plant, which is operated by Santos, has reached a production rate of 97 per cent of planned capacity, with LNG cargoes loading approximately every eight days. This achievement demonstrates the project's commercial viability and ability to generate consistent revenue streams.

The Barossa gas project is a significant contributor to Santos' overall resource base, and its geographic proximity to Darwin provides operational advantages through access to established infrastructure. The joint venture structure between Santos, PRISM Energy International Australia, and JERA Australia reflects the complexity of offshore gas projects and the need for integrated management across multiple entities.

The first condensate cargo is a valuable co-product alongside LNG, providing an additional revenue stream for Santos and its partners. By monetising both products, the project maximises economic returns from the underlying gas resource.