Santos Ltd. expects its $18.5bn valued LNG project is approaching 95% completion and should be producing its first LNG by the end of the third quarter this year.
Previous guidance for first LNG was in the second half of this year.
“The progress at GLNG over the past year has been excellent. This announcement highlights our confidence of delivering this transformational project on time and within the (US)$18.5bn budget,” Santos Managing Director and CEO David Knox said.
“The project has continued to go from strength to strength and we have made significant progress on the ground in both 2014 and in the first quarter of this year.”
“The delivery of GLNG will consolidate our strategic LNG portfolio and further position us as a key player in the growing Asian gas market.”
Santos Vice President Downstream GLNG, Rod Duke, acknowledged the hard work and dedication of the project team in delivering the key milestones to date.
“It has been a fantastic year of progress at GLNG with recent milestones including the introduction of first gas into the LNG plant and the successful firing of the first two gas turbine generators,” Duke added.
GLNG 2014-2015 SNAPSHOT