Oil company Santos Ltd
(ASX:STO) says it remains in detailed ongoing discussions with a number of Asian LNG buyers in relation to potential sales from the Gladstone LNG project, including the potential for buyers to purchase an equity stake in the project.
In June last year Santos announced that it had agreed to sell 2 million tonnes per annum of liquefied natural gas to Petronas with the option to sell an additional 1 million tonnes on the same terms.
Today Santos announced that due to its ongoing discussions with a number of LNG buyers it has decided to extend the timeframe for GLNG to exercise the option to supply Petronas with the additional 1 million tonnes per annum until the final investment decision on the first train.
The Gladstone LNG project is 60% owned by Santos and 40% by Petronas.
Santos posted net profit after tax of $1.65 billion in calendar 2008.
