Santos share prices rise after GLNG starts shipping
The price rise followed the maiden shipment of LNG from its $18.5bn Gladstone LNG export project
The Seri Bakti left the port of Gladstone carrying a cargo of 146,000 m³ of LNG to Korea Gas Corporation, a 15% owner of the GLNG venture. The start-up comes after Santos and its partners, which also include Malaysian national oil company Petronas and French major Total, spent “roughly $10,000 a minute for the last seven years” in bringing it to fruition, Santos’ chief executive, David Knox, said as the ship set sail. Santos’ survival was in doubt just a few months ago because the oil price collapse jeopardized the potential financial performance of GLNG, which saw investors fleeing and Santos’ share price collapsing from around A$15 in mid-2014 to a low of A$3.98 on 30 September. But it sur
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
