Oil & Gas

28 Feb 2024

Woodside Energy Inks Long-Term LNG Supply Deal with South Korea

28 Feb 2024  by reuters   

A plant decorates the booth of Australian petroleum exploration and production company Woodside Energy during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 13, 2023. REUTERS/Chris Helgren/File Photo Purchase Licensing Rights
Woodside Energy (WDS.AX), opens new tab has inked an agreement with South Korean state-owned natural gas firm Korea Gas Corp (036460.KS), opens new tab to supply liquefied natural gas (LNG) for more than a decade, the Australian oil and gas company said on Wednesday.

Under the supply deal, Woodside will supply about half a million tonnes of LNG per year for 10.5 years on a delivered basis, starting in 2026.

LNG to be supplied to Korea Gas will be sourced from Woodside's global portfolio, including its $12 billion Scarborough gas project which is targeting its first LNG cargo in 2026, it said.


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