The FINANCIAL — The first shipment of liquefied natural gas (LNG) from the Gladstone LNG project has been loaded and is now on its way to South Korea. The plant at Curtis Island will produce 7.2 million tons of LNG per year once at full capacity. All production from the plant will be sold under long term contracts to Asian buyers, notably in South Korea and in Malaysia.
“Gladstone LNG is a major milestone for our activity in Australia, marking the beginning of the Group’s LNG production in the country. As the Group’s sixth start-up of the year, the project will also contribute to our production growth in 2015. We are continuing to develop LNG assets in Australia with the Ichthys project, expected to start up in 2017,” said Arnaud Breuillac, President Exploration & Production.
Located in Queensland, Australia, the project comprises the development of several onshore coal bed methane fields in the Surat and Bowen basins, a 420 kilometer gas transmission pipeline and a two-train liquefaction plant on Curtis Island, near Gladstone.
Total holds a 27.5% stake in the Gladstone LNG project, alongside partners Santos (30%), Petronas (27.5%) and KOGAS (15%). Santos operates the upstream activities and facilities of the project, comprising the wells, pipelines and compression hubs, whilst the gas transmission pipeline and the plant are operated by GLNG Operations Pty Ltd., a company owned jointly by the Gladstone LNG partners, according to Total.
Total Exploration & Production in Australia
Total has been present in Australia since 2005. The Group’s exploration and production portfolio comprises a 27.5% stake in the Gladstone LNG project and a 30% stake in the INPEX-operated Ichthys LNG project currently under construction in the Northern Territory. Offshore, Total has interests in seven exploration licences in the Browse, Bonaparte and Carnarvon Basins, four of which it operates. Onshore, Total has non-operated interests in four shale gas permits in the South Georgina Basin located in central Australia.