Santos Reaches Commercial Terms With South Korean Steelmaker for 10-Year Supply of LNG
MT Newswires Live
12 hours ago
Santos (ASX:STO) agreed non-binding commercial terms with Posco Steel for a 10-year supply of liquefied natural gas (LNG) on a "delivered ex ship" basis starting in 2030 or 2031, according to a Tuesday statement.
The LNG would be sourced from Santos' global LNG portfolio, the company said. The execution of the transaction remains subject to the negotiation and execution of an LNG sale and purchase agreement, as well as all required corporate approvals.
Santos' shares declined past 1% in recent trading on Tuesday.
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