Summary
The GLNG project, in which Santos has a 30 per cent interest, has reached a major milestone, shipping its 200th LNG cargo from Curtis Island near Gladstone to Korea in northeast Asia.
The GLNG project, in which Santos has a 30 per cent interest, has reached a major milestone, shipping its 200th LNG cargo from Curtis Island near Gladstone to Korea in northeast Asia.
The vessel, YK Sovereign, docked at the Incheon terminal on Monday this week.
Santos CEO Kevin Gallagher said the natural gas industry is building a better future for hundreds of millions of people throughout the Asian region.
“For the next two decades, the International Energy Agency expects natural gas to grow more than any other energy type, to a market share of more than a quarter of all global energy demand,” Mr Gallagher said.
“Population growth, rapid urbanisation and the need to clean up air pollution across Asia will drive demand for Australian LNG.
“And as a lower carbon alternative to coal, natural gas will continue to play a key role in the pathway to lower carbon emissions.
“If all of Australia’s LNG exports from next year were used to replace legacy coal-fired power generation in Asia, the emissions saving would be 300 million tonnes a year.”
As well as producing a great clean energy product, Mr Gallagher said Santos and the GLNG project continue to deliver enormous economic and social benefits to Queensland.
“The GLNG project is investing around A$900 million in upstream production infrastructure this year alone, providing ongoing jobs and business opportunities across Queensland,” Mr Gallagher said.
“Santos is drilling a record 300 wells in Queensland this year. More gas production increases total east coast supply which is good for both the domestic gas market and LNG exports.
“As a proud Australian company, Santos is committed to ensuring the domestic gas market is adequately supplied and is set to deliver around 70PJ to the east coast domestic gas market this year, about 11 per cent of the ACCC’s expected demand for 2018.”
