GLNG marks first cargo milestone

The shipment, bound for Korea, is being carried by Malaysian-owned LNG vessel Seri Bakti and comes more than four years after construction on the project first began in 2011.

Santos Managing Director David Knox said the development was the culmination of a historic journey for Santos.

“Successfully delivering our first operated LNG project is a testament to our dedicated employees and contractors, the support we have received from governments, local communities, our customers and shareholders, as well as the strong relationships we enjoy with our joint venture partners,” Mr Knox said.

“This is the largest project we have ever undertaken as a company and I am so proud that we have been able to deliver this on time and within budget.”

More tthan 10,000 people have worked on the project which saw more than $A15 billion invested Australia-wide, including $A8 billion in Queensland alone, the company said.

Australian Petroleum Production and Exploration Association CEO Malcolm Roberts said the event was another reminder that Australia is on track to become the world’s leading LNG producer by 2018.

“While the oil and gas industry faces the same headwinds as other commodities, we are resilient enough to fend off the latest industry challenges,” Dr Roberts said.

“The International Energy Agency predicts the world gas market could grow by around 30 per cent by 2030. Other producers are emerging. Our challenge now is to stay competitive.”

Production from the first GLNG train commenced in September, with Train 2 expected to be ready for start-up by the end of the year.

The GLNG Project produces natural gas from Queensland’s coal seams in the Surat and Bowen Basins and converts it into LNG at its Curtis Island plant, 420 km away.

The GLNG Project is a joint venture between Santos (30 per cent) and PETRONAS (27.5 per cent), Total (27.5 per cent) and KOGAS (15 per cent).

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