Purpose & Vision 2040
Our purpose is to provide reliable and affordable energy to help create a better world for everyone.
To deliver on our purpose and vision is to:
- Be Net Zero by investing in projects that can store more carbon than our Scope 1 & 2 emissions.
- Maintain our reputation for capital discipline and delivering strong returns to shareholders.
- Be one of the safest, most reliable and lowest cost operators globally.
- Be the leading supplier of lower carbon domestic gas in Australia and lower carbon LNG and liquids.
- Be a leading global provider of CCS infrastructure and carbon management services.
- Be a leading global provider of low carbon fuels.
- Improve the living standards in the communities where we operate, building enduring and respectful relationships that serve generations.
- Live the “One Santos Team” culture where our people are focused, entrepreneurial, energised and disciplined to leave a positive legacy.
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.
Santos’ strategy is robust and resilient to external volatility and aims to deliver shareholder value across three horizons – backfill and sustain, decarbonisation and low carbon fuels.
Santos views natural gas as critical to the energy transition and our products as essential to support energy, social and economic security for the regions we supply. Our backfill and sustain strategic horizon is to deliver upstream production in the range of 100 to 140 million barrels of oil equivalent per annum into the 2040s.
Secondly, the Santos Energy Solutions division will seek to provide decarbonisation services to deliver our net-zero Scope 1 & 2 emissions target by 2040, as well as offering carbon management services to third parties.
Lastly, Santos Energy Solutions will seek to develop low carbon fuels as market and customer demand evolves.
It’s a simple but clear strategy that positions Santos to thrive in the energy transition.
Santos’ three-horizon strategy will be delivered through two divisions – Santos Upstream Gas and Liquids and Santos Energy Solutions.
The Upstream Gas and Liquids division includes an Asia market-focused LNG business with projects in PNG, Gladstone and Darwin, two Australian domestic gas businesses (west and east coast), and an oil development in Alaska.
The Santos Energy Solutions division is a separate revenue generating business. Sources of revenue include midstream processing of Santos and third-party gas and liquids, decarbonisation, carbon solutions and carbon management services. Santos Energy Solutions will seek to develop low carbon fuels as the market and customer demand evolves.