13 May 2026
13 May 2026
At 06:30 GMT, Brent crude futures had fallen by $1.47, while WTI futures had dropped by $1.4, both reflecting a 1.4% decrease.
Heavy industrial demand propels ethylene glycol capacity additions in the region.
Santos’ capex for the project is estimated at $160m (A$221.49m), while total project costs are projected to reach $400m over three years.
Block 3 is situated in the Levantine Basin offshore the Syrian city of Latakia.
Both the offtake deals will be fulfilled using LNG produced from Venture Global's projects.
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