Purpose & Vision 2040
Our purpose is to provide reliable and affordable energy to help create a better world for everyone.
Vision 2040 builds on the momentum of Vision 2025
In 2017 we set out on Vision 2025, with the seven elements of that vision now complete or on track for completion, we have set our sights on 2040 and delivering our net-zero Scope 1 and 2 emissions target.
We’re relentless in our search for a better future and committed to efforts to bring affordable and lower carbon energy to the world.
The world will continue to demand our products, whether that is the fuels Santos has been built on, the carbon reduction services we seek to offer or our low carbon fuels of the future. We will deliver this through the execution of our three-horizon strategy.
On our path to Vision 2040, we will create a positive legacy, for our communities, our customers, our people and our shareholders. That legacy is one of shared prosperity and strengthening communities for the long term.
Our Strategy
Santos’ backfill and sustain, decarbonisation and low carbon fuels strategy builds on the successful execution of the previous Transform, Build and Grow strategy. From 2016, the Transform, Build and Grow strategy transformed Santos into a more reliable and lower-cost producer positioned for disciplined growth and sustainable shareholder returns.
Santos’ strategy is focused on backfilling our core assets and to sustainably grow our portfolio to deliver the critical fuels the world needs into the 2040s. Santos will seek to decarbonise these critical fuels, in line with our net-zero emissions targets, and also seeks to develop low carbon fuels as customer demand evolves. For further information, see the Climate Report from page 68.
Santos’ strategy aims to deliver a lower carbon intensity base business by driving our disciplined low-cost operating model and maximising existing infrastructure. This approach will sustainability grow shareholder returns and fund the energy transition over the longer term in line with our updated capital allocation framework.
Santos’ portfolio includes three world-class LNG projects (PNG LNG, Gladstone LNG, Barossa to Darwin LNG), focused on meeting growing LNG demand in Asia. These projects are complemented by our integrated oil and gas business which includes WA and Alaska.
Santos Midstream and Energy Solutions is our decarbonisation business, focused on enabling the transition to a lower carbon energy future, and is focused on developing three CCS hubs designed to provide decarbonisation and carbon management services to Santos and third parties. Santos Midstream and Energy Solutions will seek to develop low carbon fuels as market and customer demand evolves in the decades ahead.
