Woodside, RWE ink 2-year LNG supply deal
Australian LNG player Woodside, through its unit Woodside Energy Trading Singapore signed a 2-year supply deal with Germany’s RWE Supply & Trading.
The mid-term supply of LNG will start in the fourth quarter of 2020 and run until December 2022, Woodside said in its statement.
Woodside EVP Marketing Trading & Shipping Reinhardt Matisons said the LNG would be supplied on FOB basis with the primary source being volumes Woodside has contracted from the Corpus Christi LNG Project in Texas, USA.
This is the second mid-term deal for the duo as the two companies have last year signed an LNG supply deal as well.
“This new agreement builds on existing mid-term sale arrangements commenced in 2017,” Matisons said, adding that it demonstrates the company’s diversification of transaction activity across both the Asia-Pacific and Atlantic LNG markets.
Adding to the comments, RWE Supply & Trading chief commercial officer Andree Stracke, said the new deal with Woodside is another key block in the development of RWE’s LNG portfolio.