Santos has announced the signing of a mid-term LNG supply contract with Glencore Singapore Pte Ltd (Glencore).
The contract involves supplying 19 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum over a period of three years plus one quarter. The supply will come from Santos' global portfolio of world-class LNG assets on a delivered ex-ship basis.
Santos Managing Director and Chief Executive Officer Kevin Gallagher noted that the contract with Glencore extends their existing strong business relationship and presents a valuable opportunity for both companies to leverage their expertise in Asian LNG markets.
“This oil-indexed contract, along with a long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan, highlights Santos' robust LNG portfolio position and customer relationships in the region. There continues to be strong demand in Asia for high heating value LNG from projects such as Barossa and PNG LNG. Santos is committed to supporting the energy security of our valued customers across Asia,” Mr Gallagher said.
