Santos has announced the signing of a mid-term LNG supply contract with TotalEnergies Gas & Power Asia Private Limited (TotalEnergies).
The contract entails the supply of 20 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum, over a period of three years plus one quarter. The contract will commence in Q4 2025, with LNG being supplied from Santos’ global portfolio of world-class LNG assets on a delivered ex-ship basis.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said the contract with TotalEnergies marks a new LNG relationship for Santos, building on its existing joint venture partnerships.
“This oil-indexed contract, along with the recently executed long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan and the mid-term contract with Glencore, demonstrates Santos’ strong LNG portfolio position and customer relationships in the region. Our portfolio is well-balanced over the short to medium term, with around eighty percent of volumes indexed to oil prices and about twenty percent exposed to spot pricing,” Gallagher said.
“There continues to be extremely strong demand in Asia for high-heating-value LNG from projects such as Barossa and PNG LNG, as countries focus on reducing their carbon emissions. Santos is committed to supporting the energy security of our valued customers across Asia, where gas will play a crucial role in decarbonisation efforts throughout the region,” Gallagher added.
