Woodside Energy has signed a sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for the long-term supply of LNG to Korea.
The agreement provides for the supply of 0.5 million tonnes per annum of LNG for a period of 10.5 years on a delivered basis, commencing in 2026.
LNG delivered to KOGAS will be sourced from across Woodside Energy’s global portfolio, including the Scarborough Energy Project which is targeting first LNG cargo in 2026.
“Woodside is pleased to be a long-term supplier of LNG to KOGAS, a leading global energy company and one of the world’s largest LNG importers,” Woodside chief executive officer Meg O’Neill.
“This agreement is further demonstration of ongoing robust demand for Woodside’s products from major energy consumers in our region.
KOGAS president and chief executive officer Choi Yeon-hye welcomed the agreement.
“This SPA has enabled KOGAS to enlarge the customer base in the domestic power market, reinforcing our role as a leading natural gas supplier in Korea,” she said.
“By leveraging this SPA, we look forward to further expanding our business opportunities with Woodside in the LNG industry.”
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