- Woodside (WDS, Financial) and Uniper sign LNG agreements totaling up to 2.0 Mtpa, reinforcing European energy security.
- The contracts span up to thirteen years, extending to 2039, supporting Woodside's Louisiana LNG project.
- These agreements strategically expand Woodside's footprint in the Atlantic Basin, alongside strengthening the Pacific position.
Woodside Energy Group Ltd. (WDS) has announced the signing of major LNG supply agreements with European energy company Uniper. This landmark deal includes supplying 1.0 million tonnes per annum (Mtpa) from the planned Louisiana LNG facility and up to 1.0 Mtpa from Woodside's global portfolio. The supply contracts are designed to span up to thirteen years, with the portfolio supply extending through 2039.
The partnership with Uniper represents a crucial step towards the final investment decision for the Louisiana LNG project, which is Woodside’s largest growth initiative to date. The project plans to deploy a three-train 16.5 Mtpa foundation development, enhancing Woodside’s presence in both the Atlantic and Pacific markets. These agreements are pivotal for solidifying foundational customer commitments, which are essential to proceed with the final investment decision for the project.
Strategically, the supply arrangements are expected to enhance European energy security, particularly by supporting Uniper’s flexible generation strategy and possible gas-fired power plant developments within Germany. The expansion into the Atlantic Basin through these agreements significantly broadens Woodside's geographic diversification, complementing its established market in the Pacific Basin.
Woodside CEO Meg O’Neill emphasized the significance of these agreements, highlighting the enhanced revenue visibility they provide and the validation of the Louisiana LNG project. These contracts underscore Woodside's capabilities in meeting growing global LNG demand and its longstanding commitment to reliable and flexible energy solutions.
The agreements are subject to Woodside reaching a final investment decision on the Louisiana LNG project's three-train development. Investors and industry stakeholders are looking closely at the pending decision, as it will determine the ultimate alignment of these ambitious projects.
