April 22 (LNGJ) - Australian LNG operator Santos, whose shareholdings are in the Gladstone facility in Queensland, Darwin LNG in the Northern Territory and Papua New Guinea LNG, forecast higher LNG prices in the second quarter after the Adelaide-based company reported US$964 million in revenues in the first three months of 2021.
Santos said production was 2 percent lower than in the December quarter, primarily due to lower domestic gas demand and unplanned maintenance in PNG LNG. Higher GLNG equity production from coal-seam gas fields supported annualised LNG output of 6.4 million tonnes per annum. CEO Kevin Gallagher said Santos had delivered another strong quarter of production and sales volumes. “This was despite the three-month lag in oil-linked LNG prices, which should see stronger prices in the second quarter,” he stated.
