The Santos Ltd.-led $18 billion Gladstone LNG (GLNG) project on Curtis Island in Queensland has shipped its first cargo of LNG.
The vessel Sri Bakti, owned by project partner Petronas of Malaysia, set sail for Incheon in South Korea with the inaugural cargo for another project partner, Korea Gas.
Project construction began in 2011 and saw more than $15 billion invested Australia-wide according to outgoing Santos Chief Executive Officer David Knox. About $8 billion of that was in Queensland.
Work on Train 2 of the project is continuing and is expected to be completed by the end of the year. First LNG from Train 2 is scheduled for the second quarter of 2016.
When fully operational, GLNG will produce a total of 7.8 million tonnes/year of LNG.
GLNG is Australia’s fifth operating LNG project. Another five are progressing towards completion in the country.
Santos is operator of GLNG with 30%. Total has 27.5%, Petronas 27.5% and Kogas 15%.