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Woodside’s Louisiana LNG will supply 1 million tonnes per annum (mtpa) of LNG on a free-on-board basis for up to thirteen years from the commercial operations date (COD) of the project.
In addition, Woodside Energy Trading Singapore will supply up to 1 mtpa of LNG on a delivered ex-ship basis from Woodside’s global portfolio into Europe, commencing with Louisiana LNG’s COD over a term until 2039.
Woodside said in a statement that the sale and purchase agreements are subject to the company’s final investment decision on the three-train 16.5 mtpa foundation development of Louisiana LNG.
The company confirmed on Wednesday it was in talks with Uniper over a potential LNG supply deal, saying the discussions were “ongoing and incomplete.”
In September 2022, Woodside entered into a flexible long-term sale and purchase agreement with Uniper to supply LNG from its global portfolio into Europe, including Germany, for a term up to 2039.
Under the deal, Woodside Energy Trading Singapore agreed to supply up to 12 cargoes per year, equivalent to more than 0.8 mtpa or one billion cubic meters of natural gas, to Uniper Global Commodities.
Woodside is working to make a final investment decision on its Louisiana LNG project.
In October 2024, Woodside acquired all issued and outstanding Tellurian common stock for about $900 million cash, or $1.00 per share. The implied enterprise value is about $1.2 billion.
Woodside also renamed Tellurian’s Driftwood LNG project Woodside Louisiana LNG.
The company recently signed a binding deal with US private equity firm Stonepeak to sell 40 percent of its Louisiana LNG project.
Woodside CEO Meg O’Neil said these deals with Uniper represent another “important” milestone to move Louisiana LNG towards FID.
“As we continue to progress sell-down opportunities for Louisiana LNG, these agreements reinforce the project’s unique advantages and its economic competitiveness, she said.
Michael Lewis, Uniper CEO said this deal with Woodside will “support our security of supply and flexible generation strategy together with the potential development of additional gas-fired power plants in Germany to complement the renewable build-up.”
“With this new project in Louisiana, we are further extending the cooperation with Woodside. Long-term LNG contracts like this contribute directly to the competitiveness of European industry,” he said.
The post Woodside, Uniper ink Louisiana LNG supply deal appeared first on Energy News Beat.
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