Santos Secures First Condensate Export from Barossa Gas Project

Santos has marked a significant milestone in the Barossa gas project with the first condensate export from the venture. The shipment of around 300,000 barrels was loaded onto the BW Opal FPSO and transported to SK Incheon Petrochem in South Korea for production into naphtha and jet fuel.

The export is a key indicator of the project's progress, alongside the ramp-up of LNG output at the Darwin LNG plant. The facility has reached 97% of its planned capacity and is now loading LNG cargoes roughly every eight days.

Santos expects the Darwin LNG to be a long-term supplier of LNG and condensate to Asian markets, including key partners in South Korea. The Barossa venture is operated by Santos with partners PRISM Energy International Australia and JERA Australia, and is poised to deliver ongoing economic benefits to Australia and the Northern Territory through investment, employment, and export revenues.

The company's stock has seen significant growth this year, with a YTD price performance of 31.95%. Analysts have also been bullish on the stock, with a recent rating of Buy and a price target of A$8.30.