Australia’s Santos reports solid earnings as projects progress for LNG and carbon capture after legal hold-ups
Australian energy company Santos reported solid annual and quarterly earnings with steady cargo flows from Gladstone LNG in Queensland and from Papua New Guinea while legal hold-ups were removed to push forward with bringing new feed-gas to Darwin LNG from where only one cargo was shipped in the fourth-quarter.
Strong Brent crude prices boost long-term LNG contract values while spot market hits lows
While North Sea Brent crude prices rose to their highest level since September 2019, global LNG and natural gas prices were at record low levels for the Northern Hemisphere winter season because of the glut of supplies and spot charter shipping rates were also well down.
Australia’s Santos logs LNG price of $9.09 per MMBtu as three plants export 57 cargoes
Australian Asia-Pacific liquefied natural gas market participant Santos said its average LNG price realized in the second quarter was US$9.09 per million British thermal units as 57 cargoes were shipped from its associated Australian and Papua New Guinea LNG export plants.
China is biggest market for Australian LNG from East Coast and is catching Japan in overall total
Australian LNG shipments last month amounted to 90 cargoes, or 6.2 million tonnes, down from 94 in the previous month as 32 cargoes were delivered to China, the same number as the nation shipped to Japan under long-term contracts.
