Australia’s Woodside Secures 15-Year LNG Supply Agreement with China

Australian energy giant Woodside has finalized a significant long-term LNG supply agreement with China Resources Gas International Limited, marking its first standalone long-term sale agreement with a Chinese customer.

The 15-year sale and purchase agreement (SPA) will deliver approximately 0.6 million tonnes of LNG annually to China, with deliveries scheduled to begin in 2027. This deal represents Woodside’s fourth long-term LNG sales agreement into Asia since the beginning of 2024.

“We are very pleased to have launched our relationship with China Resources, the country’s leading gas utility,” said Woodside Executive Vice President & Chief Commercial Officer Mark Abbotsford.

China Resources Gas Group Chairman Yang Ping emphasized the significance of the partnership, stating, “Woodside’s growing global LNG portfolio and its proven track record as an operator have created a solid foundation for the agreement”.

The agreement highlights the growing energy demands in Asian markets, particularly in China, which stands as Asia’s largest LNG consuming market.

China Resources Gas International Limited operates as a subsidiary of China Resources (Holdings) Company Limited (CRH), under the ownership of China’s State-owned Assets Supervision and Administration Commission (SASAC).

Most of Australia’s LNG exports go to Asia, primarily Japan and China.

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