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- Woodside Energy Trading Singapore, a subsidiary of Woodside Petroleum (WPL), has entered a sale and purchase agreement with RWE Supply & Trading
- Headquartered in Germany, RWE is an electricity generation company that trades and generates electricity in the Asia-Pacific, Europe and the United States
- It is the world’s number two company in offshore wind power and Europe’s third largest in renewable energy
- Under the agreement, Woodside will supply 840,000 tonnes of liquefied natural gas per annum to RWE
- Supply will begin in 2025 and run for seven years
- Woodside is down 3.08 per cent on the market and shares are trading at $24.56
Woodside Energy Trading Singapore, a subsidiary of Woodside Petroleum (WPL), has entered a sale and purchase agreement (SPA) with RWE Supply & Trading.
Under the SPA, Woodside will supply 840,000 tonnes of liquefied natural gas (LNG) per annum to RWE. Supply will begin in 2025 and run for seven years.
The deal builds on Woodside’s and RWE’s exisiting relationship developed through business in the Asia-Pacific and Atlantic Basin.
The companies signed a memorandum of understanding in October 2020
“This agreement with RWE is another demonstration of the momentum we are gathering ahead of our targeted final investment decision (FID) on Scarborough and Pluto Train 2 in the second half of this year,” Executive Vice President of Development and Marketing Meg O’Neill said.
“The SPA also provides the opportunity for Woodside and RWE to explore the potential for carbon-neutral LNG production and trading,” she added.
Headquartered in Germany, RWE is an electricity generation company that trades and generates electricity in the Asia-Pacific, Europe and the United States.
It is the world’s number two company in offshore wind power and Europe’s third largest in renewable energy.
“RWE is delighted to enter into a longer-term LNG supply agreement with Woodside which further reinforces the strong relationship we have developed together over the last years,” Chief Commercial Officer Origination and Gas Supply Andree Stracke commented.
“The volumes will continue to enable us the deliver effective LNG solutions to our customers and will provide a platform to further advance our existing business in Asia,” he added.
Woodside is down 3.08 per cent on the market and shares are trading at $24.56 at 12:18 pm AEDT.
