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  • Woodside and KOGAS sign agreement for long-term LNG supply
    édité le 28/02/2024 - Plus de news de "Woodside Energy" - Voir la fiche entreprise de "Woodside Energy"


Woodside and KOGAS sign agreement for long-term LNG supply
Woodside has signed a sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for the long-term supply of liquefied natural gas (LNG) to Korea.

The SPA provides for the supply of approximately 0.5 million tonnes per annum of LNG for a period of 10.5 years on a delivered basis, commencing in 2026 subject to customary conditions precedent.

LNG delivered to KOGAS under the SPA will be sourced from uncommitted volumes across Woodside’s global portfolio, including the Scarborough Energy Project which is targeting first LNG cargo in 2026.

Woodside CEO Meg O’Neill said the SPA was significant as Woodside’s first long-term supply agreement into Korea, the world’s third largest LNG market.

She said the agreement reinforced the ongoing contribution of Woodside’s LNG towards the energy security needs of major customers in the region.

“Woodside is pleased to be a long-term supplier of LNG to KOGAS, a leading global energy company and
one of the world’s largest LNG importers.

“This agreement is further demonstration of ongoing robust demand for Woodside’s products from major energy customers in our region.

“Our LNG can help customers such as KOGAS meet their energy security needs, while also supporting regional decarbonisation goals.”

KOGAS President and CEO Choi Yeon-hye said she was pleased to conclude the SPA with Woodside.

“This SPA has enabled KOGAS to enlarge the customer base in the domestic power market, reinforcing our role as a leading natural gas supplier in Korea.

“By leveraging this SPA, we look forward to further expanding our business opportunities with Woodside in the LNG industry.”

About Woodside Energy

Woodside Energy is a global energy company, founded in Australia with a spirit of innovation and determination. We provide energy the world needs to heat and cool homes, keep lights on and enable industry. For more than 35 years, the North West Shelf has been delivering natural gas to customers in Australia and around the world.
We understand the importance of supporting strong local content, economic outcomes, positive social contribution impacts, and sustainable local supply chains that deliver benefits to our host communities. Woodside Energy, as operator of the North West Shelf Project and Pluto LNG, continues to focus on safe and reliable operations and the delivery of community development outcomes.

About KOGAS

Korea Gas Corporation (KOGAS) was established in 1983 and is one of the world’s biggest LNG buyers.
KOGAS imports LNG mainly from Australia, the USA and the Middle East. KOGAS is also engaged in the overseas upstream sector, LNG production projects, and the downstream sector through 38 projects in 20 countries.


Origine : Communiqué Woodside Energy

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