October 03, 2024 [Reuters]- Australian gas supplier Santos said on Wednesday that it has signed a mid-term liquefied natural gas (LNG) supply contract with TotalEnergies’ Singapore unit.

Under the contract, which is for a little over three years, Santos will supply 20 LNG cargoes, or up to about 500,0000 tons of LNG per annum, the company said in a statement.

The contract will commence in the fourth quarter of 2025, and Santos will supply the LNG on a delivered ex-ship (DES) basis to TotalEnergies Gas & Power Asia.

“This oil indexed contract, along with the recently executed long-term LNG sales and purchase agreement with Hokkaido Gas in Japan, and the mid-term contract with Glencore, demonstrates Santos’ strong LNG portfolio position and customer relationships in the region,” Santos’ Managing Director and CEO Kevin Gallagher said.

“Our portfolio is nicely balanced over the short to medium term with around 80 percent of volumes indexed to oil price and around 20 percent exposed to spot pricing.”

Santos had earlier signed a mid-term LNG supply contract with Glencore Singapore in early September, and a 10-year deal to supply Japan’s Hokkaido Gas from 2027.

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