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September 6, 2022

Germany’s Uniper signs LNG deal with Woodside

Woodside will supply one billion cubic metres per year of LNG from its global portfolio to Uniper Global Commodities.

Germany’s Uniper has signed a deal with Woodside whereby the Australian group will supply liquefied natural gas (LNG) to help Germany reduce its reliance on Russian supplies.

Under the long-term sale and purchase agreement (SPA), Woodside subsidiary Woodside Energy Trading Singapore will sell one billion cubic metres per year of LNG from its global portfolio to Uniper Global Commodities.

Woodside will supply up to 12 cargoes of LNG per year, which is equivalent to more than 0.8 million tonnes per annum.

The SPA, which is effective from January 2023, will last until 2039.

Woodside Energy Group CEO Meg O’Neill said: “Woodside is pleased that this latest agreement with Uniper will provide a new source of LNG for consumers in Europe who are seeking alternatives to Russian gas.

“It also reflects the increasingly interconnected nature of LNG trade in the Atlantic and Pacific basins as global markets respond to energy security challenges.”

Uniper Group CEO Klaus-Dieter Maubach said: “This agreement secures additional LNG supplies for our customers in Europe, which has become ever more important due to recent developments.

“It will support our security of supply strategy together with the development of our LNG terminal in Wilhelmshaven. Woodside is one of our biggest LNG suppliers in Asia and we are pleased to extend the cooperation with Woodside to Europe with this deal.”

Woodside Energy Trading Singapore has signed two LNG SPAs with US-based Commonwealth LNG, a subsidiary of Commonwealth Projects.

Under the 20-year SPAs, Woodside will receive up to 2.5 million tonnes per annum of LNG from Commonwealth’s LNG export facility, which is under development in Cameron Parish, Louisiana.

Commonwealth President and CEO Farhad Ahrabi added: “Our modular construction approach allows Commonwealth LNG to provide greater cost and schedule certainty to customers as we deliver affordable, reliable, cleaner energy to meet global demands.

O’Neill said: “The agreements secure for Woodside low-cost LNG volumes in the Atlantic basin in a period of expected strong demand as Europe seeks alternatives to Russian pipeline gas.”

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