Santos Confident Will Announce New LNG Buyer ShortlySYDNEY (Dow...

Santos Confident Will Announce New LNG Buyer Shortly


SYDNEY (Dow Jones)--Santos Ltd. (STO.AU) said Thursday it is confident of making an announcement "shortly" on a new customer for its liquefied natural gas joint venture in Queensland state.

Santos, however, appeared to slightly revise its guidance for when it intends to make a final investment decision on the project, saying it expects it to happen "later this year", compared to previous guidance of "mid-2010".

First gas is still expected in 2014, Santos said.

"We are in detailed and advanced discussions with a number of LNG buyers for train one and train two offtake, and for equity in the project," Chief Executive David Knox said in prepared speech notes for the company's annual general meeting.

"I am confident of being able to make an announcement on this shortly."


-by Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; [email protected]


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(END) Dow Jones Newswires

May 05, 2010 20:46 ET (00:46 GMT)