Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project
- Operator Exxon Mobil was able to start up its PNG LNG plant ahead of schedule and has already ramped up to full production.
- Australia firm Santos Limited has a 13.5% equity stake in the project.
- Santos' YTD revenue is up 25% yoy on the back of its share of PNG LNG production (7 cargoes) in Q2.
- Q3 will be the first full quarter of PNG LNG contributions, which are on-track for 24 LNG cargoes.
- LNG is transforming Santos: the combination of PNG LNG and next year's GLNG start-up should cause shares to double by year-end 2015.