Woodside Signed LNG Supply Deal with Taiwan’s CPC

SEATTLE (Oil Monster): Woodside Energy Group Ltd. announced that it has entered into a sale and purchase agreement (SPA) with Taiwan’s CPC Corporation towards long-term supply of liquefied natural gas (LNG). This is Woodside’s first long-term sales agreement with Taiwan. The financial details of the transaction were not disclosed.

According to the SPA, Woodside has committed to supply approximately six million metric tons of LNG on a delivered basis over a period of ten years, beginning July this year. The agreement also covers potential delivery of around 8.4 million metric tons of LNG to CPC for an additional ten-year period from 2034 to 2043, subject to certain terms and conditions, the company press release noted.

The LNG will be sourced from volumes across Woodside’s global portfolio and delivered to CPC, it said.

Commenting on the deal, Meg O’Neill, CEO, Woodside noted that the agreement with CPC demonstrates the ongoing demand for Australian LNG in Asian markets. It reinforces the customers’ trust on Woodside’s ability to maintain a long term safe and reliable supply of energy.

In related news, Woodside has executed a revised leadership structure to deliver the next phase of the company’s strategy, which will take effect on 1 August, 2024.