Woodside Energy Trading Singapore Pte Ltd (Woodside) and JERA Co., Inc. (JERA) have entered into a nonbinding heads of agreement (HOA) for the sale and purchase of LNG cargoes during Japan’s peak winter period. This agreement strengthens Woodside’s long-standing relationship with JERA and further supports Japan’s energy security. The HOA reflects Woodside and JERA’s shared commitment to market-based arrangements that strengthen energy resilience and strategic preparedness, under a company-to-company discussion framework for enhanced cooperation on energy security established by the Government of Japan and the Japan Bank of International Cooperation (JBIC).

Under the HOA, Woodside will supply LNG cargoes on a delivered ex-ship (DES) basis to Japan during the winter months (December to February) from 2027 for a period of at least five years, subject to contract.

Woodside Chief Commercial Officer Mark Abbotsford welcomed the HOA: “This agreement not only strengthens our relationship with JERA but also reinforces the critical role Woodside plays in supporting Japan’s energy security through the reliable supply of LNG. We look forward to further collaboration with Japanese partners as we progress towards the startup of our new LNG projects, including the Scarborough Energy Project, where first cargo is targeted for the second half of 2026.”

JERA Chief Low Carbon Fuel Officer Ryosuke Tsugaru commented: “It is critically important for JERA to secure LNG for the high-demand winter season. We are grateful for Woodside’s kind understanding and cooperation to reach this agreement, which will contribute to enhancing Japan’s energy security. We look forward to further developing our relationship with Woodside, our reliable partner.”

JBIC Deputy Governor Kazuhiko Amakawa stated: "We are pleased to welcome the agreement on the HOA, which is designed to address Japan’s peak LNG demand during the winter season. This important initiative builds upon the framework established between JBIC and Woodside. JBIC remains committed to supporting Japan’s energy security through diverse forms of engagement with the relevant stakeholders."

The HOA follows the previously announced sale of two non-operating participating interests in the Scarborough Joint Venture to JERA (15.1%, completed in October 2024) and LNG Japan (10%, since completed in March 2024) and loan agreement with JBIC to support the Scarborough Energy Project.

About Woodside Energy

Woodside is a global energy company. Driven by a spirit of innovation and determination, we established the liquefied natural gas industry in Australia in the 1980s. We have safely and reliably delivered gas to homes and businesses in Australia and customers around the world for decades, supporting the development of industry and driving economic prosperity. Today, our strategy is to thrive through the energy transition with a resilient and diversified portfolio of oil, gas and new energy projects in Australia, North America and Africa.

About JERA

JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. The company was established with the concurrent aims of creating an energy company capable of competing in the global energy market and providing a stable supply of globally competitive energy, all while increasing corporate value.