Woodside Inks Korea Gas Deal

Woodside has signed a sales and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for a maximum supply of up to approximately 2.2 million tons of liquefied natural gas (LNG) over a three year period commencing in April 2014.

LNG delivered to KOGAS under the agreement will primarily be sourced from previously uncommitted volumes from the Woodside-operated Pluto LNG Plant.

Other terms of this agreement are commercial-in-confidence, Woodside said in a statement.  

“Existing Pluto LNG agreements with foundation buyers provide for LNG delivery of an ex-ship equivalent of approximately 3.25 million tonnes per annum (mtpa). This comprises Kansai Electric 1.75 mtpa and Tokyo Gas 1.5 mtpa. The previously stated delivery to foundation buyers of up to 3.75 mtpa, which includes foundation buyer options of up to 0.5 mtpa, no longer applies,” Woodside said.

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