LNG

Australia, the world’s largest LNG exporter, plans to secure natural gas resources out to 2040 and beyond under a new energy plan to open up four new onshore Basins for the domestic market and to boost investment in new pipelines and infrastructure.

Santos, the Australian liquefied natural gas operator of plants in Queensland and the Northern Territory, has hailed the judicial review decision to uphold the approval of the Narrabri Gas project to supply New South Wales.

Australian LNG project operator Santos is on its way to making Chief Executive Keven Gallagher one of the highest paid executives in the country as he develops projects in five key natural gas basins in Australia.

Nov 24 (LNGJ) - Australian LNG plant operator Santos said it welcomed the approval by the Federal Environment Ministry of the Narrabri Gas Project in New South Wales and will now embark on a 12-18 month appraisal program ahead of a final investment decision. Adelaide-based Santos operates the Gladstone LNG plant in Queensland and has a stake in Darwin LNG and the export facility in Papua New Guinea. The Narrabri project is for coal seam gas development with around 850 wells planned.

   Santos Chief Executive Kevin Gallagher said the conditions on the Narrabri Gas Project approval were consistent with those already set by the New South Wales Independent Planning Commission and generally in line with those for the company's Gladstone LNG operations, where Santos operates safely and efficiently, while protecting water resources and the environment. “Santos is excited about the prospect of developing the Narrabri Gas, a 100 percent domestic gas project that will deliver the lowest-cost source of gas for NSW customers,” added the CEO.

Australian LNG plant operator Santos, with stakes in two Australian plants and Papua New Guinea LNG, said the past quarter represented the “the trough for LNG prices”, with higher prices expected on oil-linked contract and Japan-Korea Marker spot prices through to the New Year.

Australian LNG plant operator Santos said it welcomed the New South Wales Independent Planning Commission (IPC) decision to give the go-ahead for its Narrabri Gas Project and thanked the local community for its strong support over many years.

Santos, the operator of the Gladstone LNG plant in Queensland and now the majority owner of the Darwin plant in the Northern Territory, said it welcomed the Australian Government’s announcement that it planned to unlock new natural gas supply sources and to improve the connectivity of the gas and power markets.

Santos, the Australian liquefied natural gas shareholder in three Asia-Pacific plants, maintained solid second-quarter earnings levels as its average realised LNG price was US$8.27 per million British thermal units, less than a dollar lower than a year ago.

Australian liquefied natural gas plant operator Santos welcomed the approval with conditions of a coal-seam gas project in northwest New South Wales and which the Adelaide-based company has said would be less expensive than LNG imports to meet domestic gas shortages.

Papua New Guinea’s liquefied natural gas expansion seems to have moved to the back of the line for ventures likely to make progress in the next two years as its hold-ups came before the most recent industry challenges led companies to defer multiple projects.