Santos Inks Mid-Term LNG Supply Deal with TotalEnergies
October 2, 2024
Australian gas supplier Santos has signed a mid-term LNG supply contract with TotalEnergies’s Singapore subsidiary, TotalEnergies Gas & Power Asia.
The contract is to supply 20 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per year over a period of 3 years plus one quarter.
Scheduled to begin in the fourth quarter of 2025, Santos will supply LNG from its global portfolio of LNG assets on a delivered ex-ship basis.
“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.
“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 an essential role in decarbonization efforts across the region,” said Kevin Gallagher, Santos Managing Director and Chief Executive Officer.
