Woodside secures LNG supply deal with Japan’s JERA
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The news: Oil and gas giant Woodside Energy has signed a long-term deal to supply liquefied natural gas to Japan’s largest power company JERA.
The numbers: Under the agreement, Woodside will supply 0.4 million tonnes, or six cargoes of LNG to JERA over a 10-year period starting July 2026. The LNG deliveries to JERA would be sourced from Woodside’s global portfolio.
The context: The LNG supply deal follows an expanded strategic relationship between the companies under which Woodside agreed in February to sell a 15.1% stake in the Scarborough LNG project in Western Australia to JERA for USD1.4 billion ($2.1 billion).
The equity sale is expected to be completed before the end of 2024, Woodside said on Wednesday.
What they said: “LNG continues to be an important energy source for Japan, one which can support the country’s efforts to decarbonise,” Woodside chief commercial officer Mark Abbotsford said in a statement.
The source: Woodside media release
