Soaring LNG prices, record output boosts Santos

Angela Macdonald-SmithSenior resources writer

Jan 20, 2022 – 10.45am

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Santos has reaped benefits from record production and soaring LNG spot prices, posting a 39 per cent surge in full-year sales while free cash flow more than doubled.

The completion of the $21 billion merger with Papua New Guinea’s Oil Search buoyed performance, helping lift December quarter revenue by 34 per cent to an all-time high of $US1.53 billion ($2.12 billion).

Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables.