Uniper enlists Woodside for extra LNG supplies
Australia's Woodside Energy has clinched a long-term sale and purchase agreement (SPA) with German utility Uniper for 0.8mn metric tons/year of LNG from its Asia-Pacific liquefaction and export portfolio.
The SPA provides for up to 12 cargoes/year to be supplied from Woodside's global LNG trading portfolio, and runs for a six-year term from January 2023 through to 2039.
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Woodside's SPA contract includes a time clause from September 2031 that makes supply conditional on Uniper finalising its long-term capacity plans for importing LNG into northwest Europe, a decision expected by March 2023.
Uniper plans to leverage the additional LNG to supply its forthcoming import terminal in the port of Wilhelmshaven.
Woodside CEO Meg O'Neill noted the deal shows ties between the European and Pacific LNG markets have strengthened at a time when Europe's need to displace Russian gas imports has become paramount.
O'Neill said: "Woodside is pleased that this latest agreement with Uniper will provide a new source of LNG for consumers in Europe who are seeking alternatives to Russian gas.
"It also reflects the increasingly interconnected nature of LNG trade in the Atlantic and Pacific basins as global markets respond to energy security challenges."
Uniper's chief executive, Klaus-Dieter Maubach, added: "Woodside is one of our biggest LNG suppliers in Asia and we are pleased to extend the cooperation with Woodside to Europe with this deal."