Santos Locks in LNG Deals with POSCO Steel and Western LNG
Australia's Santos has signed two separate liquefied natural gas (LNG) agreements. The first agreement is with POSCO Steel, where Santos will supply LNG on a delivered ex ship basis for 10 years. This supply will be sourced from Santos' global LNG portfolio and start in either 2030 or 2031.
The second agreement is with Western LNG, where Santos will purchase about one million tonnes per annum of LNG on a free-on-board basis. This purchase is from the proposed Ksi Lisims project in British Columbia, Canada, which has the potential to supply for up to 20 years starting from around 2031.
The Ksi Lisims project is a 12-mtpa floating LNG export project located on land owned by the Nisga'a Nation. Santos' Managing Director and CEO Kevin Gallagher stated that these agreements demonstrate the growth and diversification of the company's global LNG portfolio, supporting energy needs across Asia.