Woodside, Uniper Finalize LNG Pact
Woodside Energy Trading Singapore, a unit of Australia’s Woodside, has entered into a long-term sale and purchase agreement (SPA) with Uniper Global Commodities for the supply of LNG for a term of 13 years starting in 2021, Woodside said December 24.
Execution of the SPA follows the signing of an initial agreement between the parties in September 2019. At the time of signing the initial agreement, Woodside CEO Peter Coleman said the agreement builds on previous LNG supply arrangements between Woodside and Uniper and sends a strong signal of market support for company’s plans to expand the Pluto LNG facility in Western Australia.
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The quantity of LNG to be supplied under the SPA will initially be up to 0.5mn metric tons/year, increasing to approximately 1mn mt/yr from 2025. LNG will be supplied from Woodside’s global portfolio. However, supply from 2025 is conditional upon a final investment decision on the Scarborough development, Woodside said.