Woodside Energy Trading Singapore (Woodside) has entered into a LNG sale and purchase agreement (LNG SPA) with RWE Supply & Trading GmbH (RWE) for the supply of LNG from Woodside’s global portfolio for a term of 7-year commencing in 2025.
The quantity of LNG to be supplied under the SPA is approximately 0.84 MMT/Y and it “is not subject to final investment decision (FID) on any project”.
Woodside has remarked that the signing of the SPA with RWE was further evidence of the strong market demand for LNG in the second half of this decade. “Customers are increasingly seeking to secure new energy supplies in a timeframe which supports the development of our Scarborough offshore gas resource and the expansion of the Pluto facility with the addition of a second LNG production train.”
The Australian operator has added that it is gathering ahead of its targeted FID on Scarborough and Pluto Train 2 in the second half of this year.
RWE’s CCO Andree Stracke said that the LNG SPA’s “volumes will continue to enable us to deliver effective LNG solutions to our customers and will provide a platform to further advance our existing business in Asia.”
The SPA also provides the opportunity for Woodside and RWE to explore the potential for carbon-neutral LNG production and trading as last year, they had signed a MOU to discuss mutually beneficial hydrogen-related opportunities.
Hydrogen is expected to play an increasingly important role in the future global energy mix as a carbon-neutral fuel. RWE is progressing approximately 30 hydrogen projects, mostly located in Europe.

 

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