Woodside signs agreement with RWE for LNG supply
19 Feb 2021
RWE Supply & Trading (RWE) for the supply of
LNG from Woodside’s global portfolio for a term of seven years commencing in 2025.
The quantity of LNG to be supplied under the SPA is approximately 0.84 million tonnes per annum.
The SPA is not subject to final investment decision (FID) on any project.The SPA builds on Woodside’s and RWE’s strong relationship developed through existing mid-term and spot business in Asia-Pacific and the Atlantic basin.
Woodside Executive Vice President Development and Marketing Meg O’Neill said the signing of the SPA with RWE was further evidence of the strong market demand for LNG in the second half of this decade.
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Oz Woodside, RWE Sign LNG Pact
Australia’s Woodside has entered into a new sale and purchase agreement (SPA) with Germany’s RWE for the supply of 0.84mn metric tons/year of LNG for a term of seven years starting in 2025, it said on February 19.
The Australian company said the new SPA builds on a strong relationship developed through existing mid-term and spot business in Asia-Pacific and the Atlantic basin . The companies had inked an LNG deal in December 2018 which came into effect in the fourth quarter of 2020 and runs till December 2022. Woodside and RWE had signed a deal in October 2017 as well.