Overview
Santos announced on 15 September 2026 that it has entered into two separate liquefied natural gas (LNG) agreements: one to supply POSCO Steel and another to purchase LNG from Western LNG.
Supply Agreement with POSCO Steel
Under a delivered ex‑ship arrangement, Santos will provide LNG to POSCO Steel for a ten‑year term. The gas will be sourced from Santos’ global LNG portfolio, with deliveries scheduled to commence in 2030 or 2031.
Purchase Agreement with Western LNG
Santos will acquire approximately one million metric tons per annum of LNG from the planned Ksi Lisims project in British Columbia, Canada, on a free‑on‑board (FOB) basis. The agreement has a duration of up to 20 years, with shipments expected to start around 2031.
No additional financial terms, pricing details, or conditional obligations were disclosed.