Santos has completed the first condensate export from its Barossa gas project, with a 300,000-barrel cargo jointly marketed and sold with PRISM Energy International Australia before departing for South Korea.

The cargo was loaded on July 24 from the BW Opal floating production, storage and offloading (FPSO) vessel onto the Aframax tanker Boccadesse. It is destined for SK Incheon Petrochem’s refinery in Incheon, where it will be processed primarily into naphtha and jet fuel.

The shipment marks another operational milestone for the Barossa project, following the recent start-up of LNG production at the Darwin LNG plant. Santos said the facility is now operating at 97% of planned production rates, with LNG cargoes loading roughly every eight days.

Barossa is located about 285 kilometers north of Darwin and is operated by Santos, which holds a 50% stake. Its partners are PRISM Energy International Australia (37.5%) and JERA Australia (12.5%).

Chief Executive Kevin Gallagher said the first condensate cargo demonstrates the project’s growing contribution to regional energy markets and highlights Australia’s energy trade relationship with South Korea. He noted that while Australia exports LNG and condensate feedstock to South Korea, the country also relies on South Korean refineries for imports of refined fuels including jet fuel and diesel.

The first condensate sale also reinforces the long-standing commercial relationship between Santos, PRISM and SK Incheon Petrochem, while expanding the range of products exported from the Barossa development.

Barossa is a key source of gas for the Darwin LNG facility, extending the plant’s operating life after production from the Bayu-Undan field declined. Santos expects the project to become a long-term supplier of both LNG and condensate to Asian customers, supporting export revenues and economic activity in Australia’s Northern Territory.

This post appeared first on https://oilprice.com