Santos to supply LNG to QatarEnergy under two-year deal

ADELAIDE, July 4, 2025 – Santos has signed a two-year contract to supply 500,000 tonnes per year (tpy) of LNG to QatarEnergy Trading (QET), a wholly-owned subsidiary of QatarEnergy, Santos announced on Friday.

Volumes will be supplied starting in 2026 from across Santos’ LNG assets on a delivered ex-ship basis. The commercial terms of the deal were not disclosed.

“This contract reinforces our ability to leverage our flexible LNG portfolio to achieve great outcomes for Santos and our customers. It further complements recent mid-and long-term LNG Sales and Purchase Agreements, underscoring Santos’ robust LNG portfolio and strong customer relationships in the region,” said Santos managing director and CEO Kevin Gallagher.

Santos’ portfolio of LNG supply deals includes customers such as Glencore, JERA, Mitsubishi, Petronas and TotalEnergies, and its capacity is currently 90% contracted, with approximately 85% oil-linked until 2029.

In addition to gas assets in Western Australia, Santos operates Gladstone LNG on Australia’s east coast and Darwin LNG in the north. The company also owns stakes in PNG LNG and the Papua LNG project, both in Papua New Guinea.

In June 2025, Santos received a USD 18.7-billion takeover offer from ADNOC’s investment arm XRG, in consortium with Abu Dhabi Development Holding Company and investment firm Carlyle. XRG is seeking to build a global gas and LNG portfolio, targeting up to 25 million tpy in capacity by 2035.

Photo of Gladstone LNG courtesy of Santos

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