Santos signs 2-year LNG supply contract with QatarEnergy Trading

Santos Ltd. signed a mid-term LNG supply contract with QatarEnergy Trading LLC (QET).

The contract, noted by the company on July 4, calls for the supply of about 500,000 tonnes/year (tpy) of LNG over a 2-year period beginning in 2026. The LNG is to be supplied from Santos’ portfolio on a delivered ex-ship basis.

Santos’ customers are Hokkaido Gas Co. Ltd., Shizuoka Gas Co. Ltd., TotalEnergies Gas & Power Asia Ltd., Glencore Singapore Pte Ltd., Mitsubishi Corp., Petronas, Kogas, Osaka Gas, JERA, Sinopec (Unipec Asia Co Ltd), CPC Corp., and now QatarEnergy Trading, the company said, noting the portfolio “is around 90 per cent contracted and around 85 per cent oil linked on average between 2025-29. Average contract pricing across the whole portfolio is estimated at around 14.7% slope to Brent over 2025 to 2027.”

In the release, Santos managing director and chief executive officer, Kevin Gallagher, said the company continues to see “very strong demand in Asia for high heating value LNG from projects such as Barossa and PNG LNG, as well as for reliable regional supply.”