SYDNEY, Sept 28 (Reuters) - The first cargo vessel has docked at Australia's Gladstone liquefied natural gas project and will begin loading shortly for a maiden delivery to Korea Gas Corp (KOGAS) 036460.KS , operator Santos Ltd STO.AX said on Monday.
Early cargoes from Gladstone LNG (GLNG), 30 percent-owned by Santos, will be sold on a spot basis until long-term delivery contracts for more than 90 percent of the output kick in after a commissioning period, a Santos spokesman told Reuters. ID:nL5N1132S5
GLNG produces natural gas from coal seams and converts it into LNG for shipping to buyers, mostly in Asia.
The project includes a 420-kilometre (260-mile) gas transmission pipeline and a two-train LNG plant on Curtis Island, near the community of Gladstone, and is designed to produce up to 7.8 million tonnes of LNG per year.
Other partners are Malaysia's Petroliam Nasional Bhd (Petronas) PETR.UL and France's Total TOTF.PA , each with 27.5 percent, and KOGAS with 15 percent.