A floating production, storage and offloading vessel operates at the Barossa gas field off northern Australia. (SK Innovation E&S) SK Innovation E&S said Monday that it will bring 300,000 barrels of condensate from Australia’s Barossa gas field into Korea in early August, marking the project’s first condensate shipment to the country.Located off northern Australia, the Barossa field entered commercial production this year after 14 years of development. SK Innovation E&S has participated in exploration, permitting and construction since joining the project in 2012.Through its 37.5 percent stake, the company is entitled to about 1.1 million barrels of condensate annually from the field’s yearly output of roughly 3 million barrels. The upcoming shipment through Incheon Port will be the first part of that allocation delivered to Korea.cSK Innovation E&S has also begun importing 1.3 million metric tons of liquefied natural gas annually from Barossa, equivalent to about 3 percent of Korea’s yearly LNG imports.Condensate is an ultralight crude oil produced alongside natural gas. It contains high levels of naphtha, a key feedstock for petrochemicals including plastics and synthetic fibers.The shipment will be processed at SK Incheon Petrochem’s condensate facility to produce naphtha for paraxylene manufacturing, along with gasoline and jet fuel. The company expects the supply to improve its cost competitiveness.Over the project’s 20-year contract period, SK Innovation E&S expects to secure a total of 22 million barrels of condensate and 26 million metric tons of LNG.The company said Barossa will also strengthen Korea’s energy security by diversifying imports beyond the Middle East and reducing exposure to geopolitical tensions and disruptions along major shipping routes.