Australian gas producer Woodside Energy has signed LNG sale and purchase agreements with German-based Uniper for the supply of gas from its global portfolio.
Under the agreement, Woodside will supply 1.0 million tonnes per annum (Mtpa) from Louisiana LNG and up to 1.0 Mtpa from its global portfolio.
Louisiana LNG will supply 1.0 Mtpa of LNG on a free-on-board basis for up to 13 years from the commercial operations date (COD) of Louisiana LNG.
In addition, Woodside Energy Trading Singapore will supply up to 1.0 Mtpa of LNG on a delivered ex-ship basis from Woodside’s global portfolio into Europe starting with Louisiana LNG’s COD over a term until 2039.
The sale and purchase agreements are subject to Woodside’s final investment decision on the three train 16.5 Mtpa foundation development of Louisiana LNG.
“As we continue to progress sell-down opportunities for Louisiana LNG, these agreements reinforce the project’s unique advantages and its economic competitiveness.
“Uniper’s leadership in European energy markets make them an ideal counterparty, and this builds on Woodside’s existing offtake arrangements, underscoring our shared commitment to delivering value for all companies and the economies in which each operate,” said Meg O’Neill, Woodside CEO.
“We are very pleased to secure additional LNG supplies for our customers in Europe from a reliable LNG supplier like Woodside. This deal will support our security of supply and flexible generation strategy together with the potential development of additional gas-fired power plants in Germany to complement the renewable build-up,” added Michael Lewis, Uniper CEO.