Oil & Gas
RWE & Australian Woodside Sign Agreement for LNG Supply
RWE Supply & Trading GmbH and Woodside Energy Trading Singapore Pte Ltd have signed a sale and purchase agreement for the supply of liquefied natural
RWE Supply & Trading GmbH and Woodside Energy Trading Singapore Pte Ltd have signed a sale and purchase agreement for the supply of liquefied natural gas from Woodside’s global portfolio for a term of seven years commencing in 2025. The quantity of LNG to be supplied under the SPA is 0.84 million tonnes per annum. The SPA is not subject to final investment decision on any project. The agreement stands for continuation of the partnership between Woodside and RWE, established through existing mid-term and spot business in Asia-Pacific and the Atlantic basin.
The Scarborough gas field is a natural gas field located on the coast of Western Australia and the Pluto LNG facility processes gas from these offshore gas fields. Woodside is proposing a brownfield expansion of Pluto through the construction of a second gas processing train named Pluto Train 2.
In October 2020, Woodside also signed a memorandum of understanding with RWE. Woodside is presently exploring options associated with producing hydrogen at export scale in the future. Under the MOU, Woodside and RWE will explore the potential of marketing hydrogen from such production to RWE’s customer base in Asia and Europe. Hydrogen will play a key role in the future global energy mix as a climate neutral fuel. RWE is driving forward some 30 hydrogen projects, mostly located in the Netherlands, Germany and the UK