Santos signals increase in fiscal 2014 output Santos has signalled fiscal 2014 output to reach as much as 57 million barrels of oil equivalent in 2014, thanks to the start up of new projects, such as its gas export project in PNG. Output in fiscal 2014 will be boosted by initial production from the PNG gas project which is expected during the second half of the year, output from Peluang from the first half, while the Dua project will kick off around the middle of the year, it said. Planned outages include up to 40 days at Bayu Udan as well as an unspecified amount of downtime in the Cooper Basin as it prepares for demand to rise from 2015 due to the start-up of several gas export projects in Queensland. Santos said output for fiscal 2013 will decline slightly to 51 million of barrels of oil equivalent, due to a minor loss of production in Vietnam, as well as buyers in eastern Australia conserving volumes purchased, ahead of the ramp up of demand from late 2014, with the start-up of a number of gas export projects in Queensland. The company also said it expects global demand for liquified natural gas such as that to be exported from PNG and Queensland, will reach as much as 160 million tonnes annually by 2025, estimating the US will supply 4-60 million tonnes of that, leaving the balance to be supplied from elsewhere. Global demand will reach as much as 290 million tonnes by 2030, it predicted.