Santos Inks Dual LNG Deals with POSCO Steel and Western LNG
Australia's Santos signed two liquefied natural gas (LNG) agreements on Tuesday. One is with POSCO Steel, and the other with Western LNG.
The company will supply LNG to POSCO Steel for 10 years on a 'delivered ex ship' basis. The supply will come from Santos' diversified global LNG portfolio and start in either 2030 or 2031.
Santos also agreed to purchase about 1 million metric tons per annum (mtpa) of LNG from the proposed Ksi Lisims project in British Columbia, Canada. This deal is on a 'free-on-board' basis and will last for up to 20 years. The supply from this project is expected to start around 2031.
The Ksi Lisims project is a floating LNG export facility located on land owned by the Nisga'a Nation in British Columbia, Canada. It has a proposed capacity of 12 mtpa.