Woodside Energy has signed its first long-term LNG supply agreement into Korea, the world’s third largest LNG market, the company said in a release Feb. 27.
The company has agreed to supply 500,000 tonnes/year (tpy) of LNG to Korea through a 10.5-year deal signed with Korea Gas Corp. (Kogas).
The agreement—expected to begin in 2026 subject to customary conditions—calls for LNG sourced from uncommitted volumes across Woodside’s portfolio, including the Scarborough project which is targeting first LNG cargo in 2026, the company said (OGJ Online, Feb. 21, 2024).