Gladstone cargoes allegedly up for grabs

Santos' Gladstone LNG Project

Santos' Gladstone LNG Project

Gladstone LNG production plant is expected to offer up six commissioning cargoes for sale between October and December in the coming days, unnamed sources have told Reuters.

According to the wire news service, Gladstone LNG, led by Santos, cargoes are expected to be sold to market well before its long-term obligations commence.

Gladstone is slated to commence production and loading tankers as early as next month.

“They are looking to offer about two cargoes per month, and they should send out invites (for the supply) on Monday or early next week,” one anonymous trader told Reuters.

Santos has been at the forefront of media attention in recent days after it posted an 82 per cent loss in its FY15 results.

The disappointing results were followed promptly by the company’s seven-year chief executive David Knox’s sudden retirement.

The company’s share price fell seven per cent after last Thursday’s announcement and a further eight per cent before today’s close.

Santos declined to comment.

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