Santos has reported strong operational performance and appraisal success, with PNG LNG maintaining high-plant reliability of more than 98%, delivering an annual run rate of around 8.6 mtpa. GLNG delivered stable upstream production, with LNG production at an annual run rate of 5.8 mtpa and 24 contracted cargoes shipped during the quarter.
The final investment decision (FID) on the Moomba Central Optimisation project, targeting over $600 million in capital and operating cost savings over the life of the Central fields by moving to more efficient, modern infrastructure, improving productivity, and delivering an expected IRR of more than 15%.
The firm secured a ten-year, 200 petajoule conditional gas sales agreement with the South Australian government, including a pre-pay that supports the firm’s investment in the Moomba Central Optimisation project.
Gallagher emphasized: “Our portfolio of high-quality LNG assets, located close to Asian markets, is well positioned to meet strong and growing LNG demand across this region.
“Santos also continues to play an important role in supporting domestic energy security and economic development in Australia, including working constructively with industry partners and governments to help maintain stable fuel supply during a period of global market disruption.”