Ann: Mahalo Gas Hub Operations Update, page-109

Santos recently announced a new mid-term LNG supply contract with TotalEnergies.

Under the terms of the contract, Santos will supply 20 LNG cargoes to TotalEnergies, equating to approximately 0.5 million tonnes of LNG annually.

The deal spans a period of three years and one quarter, with deliveries set to commence in the fourth quarter of 2025.

Santos will leverage its global portfolio of LNG assets to fulfil the contract on a delivered ex-ship basis.

The agreement marks a fresh partnership between the two energy giants and underscores the growing demand for LNG in Asia.

Santos managing director and chief executive officer Kevin Gallagher said the contract with TotalEnergies is a new LNG relationship for Santos and builds on our existing joint venture partnerships.

“This oil indexed contract, along with the recently executed long-term LNG sales and purchase agreement with Hokkaido Gas in Japan, and the mid-term contract with Glencore, demonstrates Santos’ strong LNG portfolio position and customer relationships in the region. Our portfolio is nicely balanced over the short to medium term with around eighty percent of volumes indexed to oil price and around twenty percent exposed to spot pricing.”

“There continues to be extremely strong demand in Asia for high heating value LNG from projects such as Barossa and PNG LNG as countries focus on reducing their carbon emissions. Santos is committed to supporting the energy security of our valued customers across Asia, where gas will play an essential role in decarbonisation efforts across the region,” Gallagher said.