Commodities
Santos Secures Long-Term LNG Deals with POSCO and Canada's Ksi Lisims Project
Australian energy company Santos has solidified its position in the Asia-Pacific liquefied natural gas (LNG) market by signing a 10-year deal with POSCO Steel and advancing a purchase agreement for LNG from Canada's Ksi Lisims project.
The agreement with POSCO, one of South Korea's major steelmakers, will see Santos supply LNG on a delivered ex ship basis starting in 2030 or 2031. This long-term relationship with POSCO expands Santos' supply commitments to Asian customers.
In addition, Santos is seeking to add approximately 1 million tonnes per year from the Ksi Lisims project, which has a projected capacity of 12 million tonnes per year and will be located on land owned by the Nisga'a Nation in British Columbia.