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SANTOS LIMITED — Capital/Financing Update 2018
Aug 16, 2018
65872_rns_2018-08-16_361f7392-4454-4e05-82ed-4a2dc29f0e36.pdf
Capital/Financing Update
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ASX / Media Release
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17 August 2018
PNG LNG signs mid-term sales agreement with BP Singapore
Santos advises that the PNG LNG Project co-venturers have entered into a mid-term LNG sale and purchase agreement (SPA) with BP Singapore Pte. Limited (BPS), for the supply of LNG commencing in August 2018.
The mid-term SPA is for supply of approximately 0.45 million tonnes of liquefied natural gas (LNG) per annum (mtpa) for the first three contract years rising to approximately 0.9 mtpa in the final two contract years.
This SPA takes the total contracted volumes from the Project to 7.5 mtpa, with 7.0 million tonnes of PNG LNG's annual output already committed under long-term contracts to JERA, Osaka Gas, Sinopec and CPC and the recently announced mid-term sale to PetroChina.
ExxonMobil, on behalf of the PNG LNG Project participants, is negotiating with a number of other parties for potential mid-term LNG supply agreements in lieu of spot sales. These agreements are expected to be concluded in the near-term and increase sales under new mid-term agreements to 1.3 mtpa.
Santos has a 13.5% interest in PNG LNG.
Ends.
Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T +61 8 8116 5000 F +61 8 8116 5131 www.santos.com
Investor enquiries Andrew Nairn +61 8 8116 5314 / +61 (0) 437 166 497 [email protected]
Media enquiries Daniela Ritorto +61 8 8116 5167 / +61 (0) 455 319 770 [email protected]
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