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Santos expects Gladstone LNG sale deal by yr-end

Published 06/09/2009, 03:56 AM
Updated 06/09/2009, 04:00 AM

KUALA LUMPUR, June 9 (Reuters) - Australian oil and gas producer Santos Ltd said on Tuesday it expects to secure a deal to sell liquefied natural gas (LNG) from its Gladstone LNG project before the end of this year.

David Knox, CEO of Australia's third-largest oil and gas producer, also said that Santos is looking to sell off some of the company's assets in the Timor Sea.

Asked about the progress of discussions with an unidentified Asian buyer for its Gladstone LNG, Knox, said:

"We are making good progress. We expect the deal before the end of this year."

He declined to name the buyer when pressed.

Knox said he still expects the first LNG cargo from the Glandstone project to come in 2014. (Reporting by Chua Baizhen; Editing by Ramthan Hussain)

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