Santos announced that the co-venturers of the PNG LNG project have secured a sale and purchase agreement (SPA) with a Sinopec subsidiary, Unipec Singapore. The mid-term agreement for LNG supply begins in April of 2019. Santos holds a 13.5% interest in the PNG LNG project.
The addition of this agreement increases PNG LNG’s commitments from 6.6 million tons per annum (MTPA) to 7.9 MTPA. The existing commitments include both mid-term and long-terms SPAs with companies including Osaka Gas, JERA, BP, Sinopec, CPC, PetroChina and Unipec.
The SPA with Unipec Singapore is specifically for the supply of .45 MTPA of liquified natural gas (LNG) to occur over the course of four years.
