Business

Privatising port won't affect LNG prices: Santos

SANTOS chief executive David Knox says it will make no difference to the price of Santos' liquid natural gas exports if the Port of Gladstone is privatised.

The Queensland government on Tuesday formally announced it would offer a long-term lease to a private operator to run the Port of Gladstone if the LNP won the 2015 state election.

Speaking at a Brisbane Mining Club forum in Brisbane on Thursday, Mr Knox told reporters the company's price of LNG would not be affected.

"It wouldn't affect our price - we have agreements in place with the Port of Gladstone right now," Mr Knox said.

"In fact, quite the reverse. The Port of Gladstone will seek to have all the agreements in place before they take any public action.

Mr Knox said LNG from Queensland would remain competitive by the time loading, landing and shipping costs were added.

Santos has about 8500 employees on its LNG operations in Gladstone and that will be dropped to 1500 as construction winds down and exporting begins.

Read the full story at the Brisbane Times.

Topics:  curtis island gas gladstone glng lng resources santos



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