Woodside Energy inks long-term LNG supply deal with South Korea

2/28/2024

(Reuters) - Woodside Energy has inked an agreement with South Korean state-owned natural gas firm Korea Gas Corp to supply LNG for more than a decade, the Australian oil and gas company said on Wednesday.

Under the supply deal, Woodside will supply about half a million tons of LNG per year for 10.5 years on a delivered basis, starting in 2026.

LNG to be supplied to Korea Gas will be sourced from Woodside's global portfolio, including its $12 billion Scarborough gas project which is targeting its first LNG cargo in 2026, it said.