Australian oil and gas giant Woodside has signed a sale and purchase agreement (SPA) with CPC Corporation for the long-term supply of liquefied natural gas (LNG) to Taiwan.
Under the SPA, Woodside will supply approximately 6 million tonnes of LNG on a delivered basis over 10 years, starting in July 2024.
Woodside may also deliver approximately 8.4 million tonnes of LNG to CPC for a further 10 years, from 2034 to 2043, subject to conditions and agreement on terms for this period.
LNG delivered to CPC under the SPA will be sourced from volumes across Woodside’s global portfolio.
“This agreement with CPC for long-term supply to Taiwan is a first for Woodside and another demonstration of the ongoing demand for Australian LNG in Asian markets. It also reinforces the value our customers place on Woodside’s ability to maintain safe and reliable supply of energy into the 2030s,” said Meg O’Neill, Woodside’s CEO.