Santos signed two long-term agreements on LNG

Australian energy company Santos has signed two long-term liquefied natural gas agreements. One involves the sale of LNG to South Korea's POSCO Steel, while the other concerns the purchase of gas from the planned Ksi Lisims project in Canada.

Santos will supply POSCO Steel with liquefied natural gas for ten years. Deliveries will begin in 2030 or 2031, with the gas coming from the company's various projects.

Under the second agreement, Santos will purchase approximately 1 million tonnes of LNG per year from the Canadian Ksi Lisims project. The contract will run for up to 20 years, with the first delivery scheduled for around 2031.

Ksi Lisims is a planned floating LNG terminal project in British Columbia, with an annual capacity of 12 million tonnes. According to Santos management, the new contracts serve to expand the company's global LNG business and respond to growing energy demand in Asian countries.

Source: Reuters