Woodside doubles LNG volumes to Uniper as part of new deal

Australia’s Woodside will double the volumes of LNG it plans to supply to Germany’s Uniper as part of an amended long-term deal revealed on Monday.

The duo signed a 13-year deal back in December 2019 for up to 0.5 million tonnes per annum of LNG supply starting this year and up to 1 Mtpa from 2025.

Under the new deal, initial supply in 2021 is now for a volume of up to 1 Mtpa, increasing to
about 2 Mtpa from 2026.

In addition, the majority of LNG supply from 2025 is conditional upon a final investment decision on the development of the Scarborough gas resource offshore Western Australia, Woodside said in a statement. The project would feed the second Pluto LNG train.

Moreover, the duo have also agreed to collaborate on potential carbon-neutral LNG, including enhanced carbon accounting, and future hydrogen opportunities.

Woodside CEO Peter Coleman said the expansion of the existing SPA with Uniper demonstrated further progress towards a final investment decision on the Scarborough development.

“We expect the timing to be right for final investment decisions on Scarborough and Pluto Train 2 in the second half of this year,” he said.

“This agreement with Uniper highlights the strong market demand we are seeing for Scarborough LNG as customers consider their energy requirements from the second half of this decade,” Coleman said.

Furthermore, he added that Woodside has now secured long-term customers for over 40% of the firm’s expected Scarborough equity production.

Uniper CEO Andreas Schierenbeck said the agreement supported Uniper’s decarbonisation plans.

“With this agreement, Uniper continues its path to implement its strategy of growth in Asia, trading in cleaner fuels and decarbonisation,” he said.

Most Popular

Atlantic LNG shipping rates rise to four-month high

Atlantic LNG freight rates rose to $25,750 per day this week, while European prices also increased compared to the prior week.

Capital sells LNG carrier for scrap

Greece's Capital Gas has sold one steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

US approves financing for Mozambique LNG

The Export-Import Bank of the United States has approved financing for the TotalEnergies-led Mozambique LNG project.

More News Like This

Woodside expects first Scarborough LNG cargo in H2 2026

Australian LNG player Woodside expects to ship the first cargo from its Scarborough and the second Pluto LNG train project in the second half of 2026.

Woodside in advanced talks to sell Louisiana LNG stake, CEO says

Australian LNG player Woodside is in "well advanced" negotiations with "high-quality counterparts” to sell up to 50 percent of its Louisiana LNG export project, according to CEO Meg O'Neill.

Woodside’s Scarborough project 80 percent complete

Woodside’s Scarborough and the second Pluto LNG train project is 80 percent complete, and it remains "on track" for the first LNG cargo in 2026, according to Woodside.

Germany’s EnviTec buys Uniper’s Liqvis

Germany’s EnviTec Biogas has acquired Uniper's unit Liqvis, the operator of a network of LNG fueling stations for vehicles...