Santos Lands Major LNG Deals with POSCO Steel and Western LNG

Australia's Santos has signed two significant liquefied natural gas (LNG) agreements. The first is a supply deal with POSCO Steel, which will see Santos deliver LNG to the steel company on a 'delivered ex ship' basis for 10 years starting from either 2030 or 2031.

The LNG will be sourced from Santos' diversified global portfolio, and it's worth noting that Santos will supply approximately 1-million tons per annum (mtpa) to POSCO Steel. This deal is part of the company's growth and diversification efforts in the global LNG market.

In a separate agreement, Santos has committed to purchasing around 1-million tons per annum (mtpa) of LNG from the proposed Ksi Lisims project in British Columbia, Canada. The purchase will be made on a 'free-on-board' basis for up to 20 years, with supply commencing from around 2031.

Santos Managing Director and CEO Kevin Gallagher said that these agreements demonstrate the company's continued growth and diversification of its global LNG portfolio, which supports the growing energy needs of customers and partners across Asia.