Woodside Energy Trading Singapore Pte Ltd (Woodside) has signed an agreement with RWE Supply & Trading GmbH (RWE) for the mid-term supply of LNG commencing in the fourth quarter of 2020 and in effect until December 2022.

Woodside EVP Marketing Trading & Shipping Reinhardt Matisons said the LNG would be supplied on an FOB basis with the primary source being volumes Woodside has contracted from the Corpus Christi LNG Project in Texas, USA.

“We are pleased to sign another mid-term LNG supply deal with RWE, one of Europe’s leading energy companies. This new agreement builds on existing mid-term sale arrangements commenced in 2017 and illustrates the growing business relationship between our companies. It is also a further demonstration of the diversification of our transaction activity across both the Asia-Pacific and Atlantic LNG markets,” he said.

RWE Supply & Trading Chief Commercial Officer Andree Stracke said: “RWE is delighted to enter into another firm mid-term LNG transaction with Woodside, a leading Australian oil and gas company with a global presence. This transaction demonstrates the growing global cooperation of our two companies, and represents another key building block in the further development of RWE’s flexible LNG portfolio.”

The agreement is fully termed and binding.

About Woodside

Woodside (ASX: WPL, OTC: WOPEY) is Australia’s largest independent oil and gas company, with a proud history of safe and reliable operations spanning decades.
As the largest operator of oil and gas in Australia, Woodside produces around 900,000 barrels of oil equivalent each day from a portfolio of facilities which we operate on behalf of some of the world’s major oil and gas companies.

About RWE AG

RWE AG, which is headquartered in Essen, Germany, has three operating divisions - Lignite & Nuclear, European Power (gas, coal, hydro and biomass) and Supply & Trading. The Company plays a crucial role in power system operations and security of supply across Europe. Its fourth mainstay is a financial holding in innogy SE, one of the continent's leading energy companies. In March 2018, RWE announced that it would transfer this stake to E.ON via an asset swap. In return, RWE will receive the renewable energy businesses of innogy and E.ON as well as other assets. This transaction is expected to be completed by the end of 2019, at which point RWE will become Europe's No. 3 renewable energy company and employ more than 20,000 people.