Santos has signed an agreement with a South Korean company to buy 3.5 million tonnes of liquefied natural gas from Queensland each year. KOGAS will take a 15 per cent stake in the Gladstone LNG project and French company Total has also increased its stake by 7.5 per cent. The project will source gas from the Surat and Bowen basins and pipe it to central Queensland for processing.

 

And to the market numbers now, Australian shares ended the week lower. The All Ords lost 16 points. The ASX 200 was down about 21 points. Elsewhere in the region, Japan's Nikkei was down, the Hang Seng was up. In the US, stocks are flat. The Dow Jones is slightly lower. And on the commodities market, gold is trading higher. And a quick check of the currencies, the Australian dollar is buying around 99 US cents and almost 64 pence.