The news: Woodside Energy has signed an agreement with Germany’s Uniper to supply liquefied natural gas (LNG) from its Louisiana project and its global portfolio.
The numbers: Under the deal, Australia’s top oil and gas producer will supply Uniper 1.0 million tonnes per annum of LNG from its upcoming Louisiana project in the US and up to 1.0 mtpa from its global portfolio.
Louisiana LNG will supply the gas on a free-on-board basis for up to 13 years from the date of its commercial operations. In addition, Woodside Energy Trading Singapore will supply gas on a delivered ex-ship basis from Woodside’s global portfolio into Europe, over a term until 2039.
The context: Woodside CEO Meg O’Neill said the agreements represent another important milestone to move Louisiana LNG towards a final investment decision. The deal comes just a week after Woodside sold a 40% interest in the Louisiana project to global investment firm Stonepeak.
“As we continue to progress sell-down opportunities for Louisiana LNG, these agreements reinforce the project’s unique advantages and its economic competitiveness,” she said.
The latest deal builds on an existing flexible long-term sale and purchase agreement signed by Woodside and Uniper in September 2022.