Revenue of Australian LNG company Santos up 99% in 1Q22

By Murat Temizer

ANKARA (AA) - The sales revenue of Australian liquefied natural gas plant operator Santos totaled $1.9 billion in the first quarter of 2022, up 25% compared to the prior quarter and 99% higher than the corresponding period in 2021, the company’s latest report revealed.

The report said the revenue increase was due to stronger commodity prices combined with higher sales volumes.

Santos generated a record $865 million in free cash flow in the first quarter, up 186% on the corresponding period.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said, “Santos delivered record production, sales revenue and free cash flow in the first quarter, demonstrating the strong performance of the base business and strategic benefits of our diverse portfolio.”

"Our goal is to deliver superior shareholder returns while being a global leader in the transition providing cleaner energy and clean fuels that are affordable and reliable," he added.