Santos and joint venture partner PRISM Energy International Australia have loaded and dispatched the maiden condensate shipment from the Barossa gas project.
The initial cargo, containing approximately 300,000 barrels of condensate, was loaded directly from the BW Opal floating production, storage and offloading (FPSO) vessel on July 24.
Transported aboard the Aframax tanker Boccadesse, the shipment is bound for South Korea’s SK Incheon Petrochem refinery, where it will primarily be processed into naphtha and jet fuel.
This export marks another critical step forward for the offshore development, following the commencement of LNG production at the Darwin LNG facility, which is currently operating at 97 per cent of planned capacity.
Santos CEO Kevin Gallagher highlighted the significance of the shipment, noting that LNG cargoes are now being loaded roughly every eight days alongside the steady flow of condensate to international markets.
“Australia is a trusted supplier of energy to key partner countries, and those same partners supply Australia with the refined fuels and energy products we rely on,” Gallagher said.
He emphasised that South Korea stands as Australia’s second-largest supplier of refined liquid fuels, making the transaction a clear demonstration of a two-way energy security relationship across the Asia-Pacific region.
Refineries such as SK Incheon Petrochem rely on condensate feedstock to produce the jet fuel and diesel that underpin the Australian economy.
“The delivery of this cargo to SK Incheon Petrochem reflects the long-standing relationship between Santos, PRISM and SK, and the commercial partnerships that underpin both energy and regional security across the Asia-Pacific region,” the CEO said.
The Barossa project is expected to remain a vital long-term supplier of LNG and condensate across Asian markets, delivering sustained economic returns to Australia and the Northern Territory through investment, jobs, regional business opportunities, and export revenue.
Santos operates the Barossa project with a 50 per cent stake, alongside joint venture partners PRISM Energy International Australia with 37.5 per cent and JERA Australia with 12.5 per cent.