Santos expects Gladstone LNG to start in second half of 2015
Santos expects Gladstone LNG to start in second half of 2015
JAMES PATON
ADELAIDE, Australia (Bloomberg) -- Santos Ltd. expects its $18.5 billion LNG development on the east coast of Australia to start in the second half of next year.
Santos, which previously said the Gladstone LNG project in Queensland would start production at some point in 2015, expects the second unit to be ready to begin by the end of next year, the Adelaide-based company said in a statement. The project is 90% complete, it said.
The development is one of seven Australian natural gas export ventures under construction to meet increasing Asian demand. The projects put Australia on course to surpass Qatar as the world’s biggest supplier of the fuel.
Santos expects 2015 production of 57 MMboe to 64 MMboe, it said. The company narrowed its forecast for this year to 53 MMboe to 55 MMboe.
