GLNG hits 95% mark

CONSTRUCTION of the Santos-led Gladstone LNG project has reached 95% completion with first LNG expected by the end of September.

Blair Price

This first LNG timeframe was long-flagged by Macquarie Wealth Management with Santos’ previous guidance being the second half of 2015.

“The progress at GLNG over the past year has been excellent,” Santos managing director and CEO David Knox said.

“This announcement highlights our confidence of delivering this transformational project on time and within the $US18.5 billion budget.”

He said the project has continued to go from strength to strength.

“The delivery of GLNG will consolidate our strategic LNG portfolio and further position us as a key player in the growing Asian gas market.”

An analyst tour of Santos sites is also looming, with Santos debt-focused Credit Suisse taking part.

The two-train GLNG project is targeting 7.8 million tonnes per annum of LNG export capacity.

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