2348 GMT [Dow Jones] Australian companies with LNG projects in the works outperforming, with Santos (STO.AU), Woodside (WPL.AU), Oil Search (OSH.AU) rare green spots in a sea of red, rising 0.4%, 0.1% and 0.2%, respectively. A global shift away from nuclear power in response to the atomic plant crisis unfolding in Japan will spur a scramble for Australian energy, catapulting the country ahead of Qatar as the world's biggest supplier of LNG in the near future. Germany and Switzerland are reviewing their energy strategies and China halted approvals for new nuclear power plants pending changes to safety standards. Woodside rises after it discovers more gas offshore Western Australia state, firming up prospects for an official approval of an expansion of its Pluto LNG project this year. Santos doesn't produce LNG now, but it has stake in three planned projects including a coal seam gas venture in Queensland, traditional natural gas venture in Papua New Guinea with Oil Search and a floating LNG proposal offshore northwestern Australia.
NGE Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
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