Business
Santos primed to gain from LNG price spike – The Australian Financial Review
The oil and gas producer is due to ship 10 spot cargoes this quarter just as LNG prices have surged.
December quarter sales rose to $US922 million ($1.2 billion) on the back of a 25 per cent jump in commodity prices and an all-time high in quarterly production. But sales for the full year dropped 16 per cent to $US3.39 billion, dragged down by weak prices from earlier in the year.
“2020 saw us ride through the bottom of the cycle while still generating free cash flow and deliver a record 4.3 million tonnes of Santos-equity LNG sales,” chief executive Kevin Gallagher said.
Free cash flow was just…
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