Woodside has further solidified its strategic partnership with JERA, one of the world’s largest buyers of liquefied natural gas (LNG).
The two companies have signed a long-term sale and purchase agreement (SPA) for the supply of LNG to Japan.
Under the terms of the SPA, Woodside will deliver approximately 0.4 million tonnes (six cargoes) of LNG per year to JERA over a decade-long period, commencing in April 2026.
The LNG supplied will be sourced from Woodside’s global portfolio of projects.
This agreement follows the announcement in February 2024, where Woodside reached an agreement to sell a 15.1 per cent non-operating participating interest in the Scarborough Joint Venture to JERA.
Mark Abbotsford, Woodside’s Executive Vice President and Chief Commercial Officer, expressed excitement about the deal.
“This LNG offtake agreement is Woodside’s first long-term sale to JERA from our global portfolio and delivers on one of the core elements of our strategic relationship outlined earlier this year.”
Woodside said the execution of the SPA strengthens Woodside’s commitment to exploring business opportunities alongside JERA, a key player in the global LNG market.
The company expects the sale of the Scarborough equity interest to JERA to be completed before the end of 2024.
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