Following several delays, South Korea’s energy company, SK Innovation E&S has shipped its first LNG cargo from Australia’s Barossa project to Japan.
The gas was transported to the nearby Darwin LNG terminal for liquefaction.
A second cargo bound for South Korea was also liquefied at the Darwin facility, the company, part of the SK Group, said.
This also marked the first time a private South Korean company has produced LNG through an overseas resource development project.
SK Innovation said it expected to secure 1.3 mill tonnes of LNG annually from the Barossa field over the next 20 years, which is equivalent to around 3% of South Korea's annual LNG imports.
The company acquired a 37.5% stake in the project in 2012. Australian energy producer Santos holds a 50% stake, and Japan's largest power generator JERA owns the remaining 12.5% in Barossa.
The three companies have jointly invested about Won2 trill ($1.6 bill) in the project, involving activities ranging from gas reserve assessments to the construction of production facilities, the company added.
