- Woodside Petroleum (ASX:WPL) has signed a long-term LNG supply deal with Uniper Global Commodities SE
- The sale and purchase agreement follows a heads of agreement signed in September this year
- The agreement will see Woodside provide LNG to Uniper for 13 years, beginning in 2021
- However, supply from 2025 will depend on the development of the Scarborough gas project in Western Australia
- Shares in Woodside rose 0.89 per cent today, closing at $35.04 per share
Woodside Petroleum (ASX:WPL) has signed a long-term LNG supply deal with German company, Uniper Global Commodities SE.
The Sale and Purchase Agreement (SPA) will see Woodside provide LNG to Uniper for 13 years.
From 2021 until 2024 Woodside will provide up to 0.5 million tonnes per annum to Uniper.
Then the quantity will increase to 1 million tonnes per annum from 2025.
This, however, is conditional upon the final investment decision for the Scarborough gas project, expected in early 2020.
The execution of the SPA follows a heads of agreement, signed in September this year.
The Scarborough Gas recourse is located 375 km west-northwest of the Burrup Peninsula, offshore north-west Western Australia.
Shares in Woodside rose 0.89 per cent today, closing at $35.04 per share.