The Australian gas company Santos, in partnership with Prism Energy International Australia, has completed the first sale and shipment of condensate from the Barossa gas field on the Australian continental shelf.

Delivery Details

A shipment of approximately 300,000 barrels was loaded on July 24 onto the Aframax Boccadesse tanker from the floating facility BW Opal, located at the Barossa field. The cargo is destined for the SK Incheon Petrochem refinery in South Korea.

Export and Production

This marks the first export shipment of condensate from the Barossa project, following the launch of liquefied natural gas (LNG) production at the Darwin LNG plant. Currently, the plant operates at 97% of its design capacity, with LNG shipments occurring roughly every eight days.

Condensate Utilization

The delivered condensate will be processed at the SK Incheon Petrochem plant in Incheon, where it will primarily be used to produce naphtha and jet fuel.

South Korea’s Role and Partnership

South Korea is one of the leading suppliers of petroleum products to Australia, and SK enterprises play a significant role in regional supply chains.

Project Ownership Structure

Santos operates the Barossa project and holds a 50% stake. The remaining shares are divided between Prism (37.5%) and Jera Australia (12.5%).

Significance of the Shipment

The first condensate shipment is a major milestone for the Barossa gas project. The Darwin LNG plant is expected to become a long-term supplier of LNG and condensate to Asian markets, bringing economic benefits to Australia and the Northern Territory through investment, job creation, business development, exports, and tax revenues.