Woodside Petroleum Ltd. said on Dec. 24 it has signed an agreement to supply liquefied natural gas (LNG) to German utility Uniper SE for 13 years starting 2021.
Under the agreement, Woodside said it would initially supply up to 0.5 million tonnes per annum (mtpa) of LNG, which could increase to 1 mtpa from 2025.
However, supply from 2025 remains conditional upon a final investment decision related to the company's Scarborough project off northwestern Australia.
Woodside is looking to develop Scarborough to feed a new 5 mtpa production unit, called a train, at its Pluto LNG plant in Western Australia.
The finalization of the deal follows Woodside's announcement in September, when the two companies signed an initial agreement for LNG supply.
Recommended Reading
Adkins: The Overhang of Excess Oil May Not Be All that Massive
2024-12-02 - Raymond James’ J. Marshall Adkins says the market is factoring in perceptions of OPEC excess capacity from countries such as Venezuela, Nigeria and Iraq that have yet to hit their production potential—and probably won't anytime soon.
Paisie: Trump’s Impact on All Things Energy
2024-12-11 - President-elect Donald Trump’s policies are expected to benefit the U.S. oil and gas sector, but also bring economic and geopolitical risks.
Golar LNG Buys $90MM Stake in FLNG Hilli
2024-12-24 - Golar LNG has purchased Seatrium’s and Black & Veatch’s minority ownership in the asset, which represents 8% of FLNG Hilli’s full capacity.
Kissler: Wildcards That Could Impact Oil, Gas Prices in 2025
2024-11-26 - Geopolitics and weather top the list of trends that will determine the direction of oil and gas.
EPA Gives OK to Texas GulfLink Deepwater Port
2024-11-04 - Sentinel Midstream’s Texas GulfLink project is one of several proposals for an offshore oil terminal in the Gulf.