The first cargo from the $18.5 billion Gladstone liquefied natural gas project left on Friday, the second of seven new Australian developments putting the country on track to overtake Qatar as the world's top LNG exporter in the next three years.
The launch was a rare piece of good news for Santos Ltd , the operator of the project, which is racing to sell assets to cut its $8.8 billion in net debt and help it ride out what is expected to be a prolonged period of weak oil prices.
The maiden cargo from the world's second LNG plant fed by coal seam gas is headed to Korea Gas Corp (KOGAS) in South Korea, just as spot LNG prices in Asia <LNG-AS> have tumbled to a record low.
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The launch was a rare piece of good news for Santos Ltd , the operator of the project, which is racing to sell assets to cut its $8.8 billion in net debt and help it ride out what is expected to be a prolonged period of weak oil prices.
The maiden cargo from the world's second LNG plant fed by coal seam gas is headed to Korea Gas Corp (KOGAS) in South Korea, just as spot LNG prices in Asia <LNG-AS> have tumbled to a record low.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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