Woodside has finalised fuel provide from the US and a gross sales deal to Germany in main strikes from its base enterprise of promoting WA fuel to East Asia.
The Perth-based fuel exporter will purchase 2.5 million tonnes of liquified pure fuel a 12 months from an export terminal Commonwealth LNG is constructing on the Louisiana coast within the Gulf of Mexico.
With BHP’s Atlantic property and new provide and gross sales offers, Woodside is breaking away from its Asia-Pacific focus.Credit score:Woodside
The phrases of the 20-year deal beginning in mid-2026 are per a preliminary settlement signed in January.
Woodside CEO Meg O’Neill stated the settlement introduced on Monday supplied the premise for a long-term partnership with Commonwealth LNG.
“The agreements safe for Woodside low-cost LNG volumes within the Atlantic Basin in a interval of anticipated robust demand as Europe seeks alternate options to Russian pipeline fuel,” she stated.
Woodside will begin assembly that demand in January 2023 after its Singapore-based buying and selling arm finalised the sale of as much as 12 cargoes of LNG a 12 months to Europe for Germany’s Uniper till 2031 with a attainable extension to 2039.
O’Neill stated the greater than 0.8 million tonnes a 12 months of fuel would assist Uniper’s prospects diversify their power provide.
“It additionally displays the more and more interconnected nature of LNG commerce within the Atlantic and Pacific basins as international markets reply to power safety challenges,” she stated.
Each offers had been introduced on the day the worldwide fuel trade – revitalised by a war-fuelled value surge – met on the Gastech convention in Milan.
