Woodside signs LNG supply agreement with Taiwan’s CPC

Australian energy producer Woodside has signed an agreement with Taiwan’s CPC Corporation for the long-term supply of LNG, the company announced on July 11.

Under the deal, Woodside will supply approximately 6mn tonnes of LNG on a delivered basis over 10 years, starting in July 2024. Woodside may also deliver approximately 8.4mn tonnes of LNG to CPC for a further 10 years, from 2034 to 2043, subject to conditions and agreement on terms for this period.

LNG delivered to CPC under the agreement will be sourced from volumes across Woodside’s global portfolio. “This agreement with CPC for long-term supply to Taiwan is a first for Woodside and another demonstration of the ongoing demand for Australian LNG in Asian markets,” said Woodside CEO Meg O’Neill.

CPC recently signed a deal with Qatar covering the long-term supply of LNG and a partnership in the North Field East (NFE) LNG expansion project. The two parties signed a sales and purchase agreement for the delivery of 4mn tonnes/year of LNG from the NFE project to CPC over a period of 27 years. Additionally, they signed an agreement under which QatarEnergy will transfer a 5% interest in one NFE train, which has a capacity of 8mn tonnes/year, to CPC.