Santos Bumps Production Date for GLNG Project

Santos Ltd. (ASX:STO) announced that its GLNG project should produce its first LNG towards the end of 2015′s third quarter. The company said previously that it would start production in Q2 2015.

The release includes a snapshot of activity at the project:

• Completed construction of all major gas field processing facilities.
• Completed its 420-kilometre pipeline, including a 4.3km undersea pipeline tunnel.
• Installed all 111 modules that make up its two LNG processing trains.
• Hydrotested both of its LNG storage tanks.
• Built its LNG loading jetty.
• Introduction of first gas into the plant and lighting of the flare.
• Successful firing of the first two gas turbine generators.

Santos CEO David Knox commented:

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$18.5 billion budget.

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.

Click here to read the full Santos Ltd. (ASX:STO) press release.