Aug 15 (Reuters) - Santos Ltd STO.AX :
* Asset review outcome STO.AX
* Expects to recognise impairment charge against carrying value for GLNG of approximately US$1.050 billion after tax in 2016 half-year
* Says sustained low oil prices continue to constrain capital expenditure and impact GLNG
* Have decided to adjust our long-term operating assumptions for GLNG to reflect the reality of the current oil price environment"
* Low oil and gas prices continue to challenge our upstream business and the entire oil and gas industry"
* We are experiencing a slower ramp up in production of GLNG equity gas and the price of third party gas has increased"
* Impairment will be a non-cash charge and will not affect the company's debt facilities
* Continue to maintain approach of reducing costs
* Source text for Eikon ID:nASXbF0wxN