Australia's Woodside signs binding LNG supply deal with Turkey's BOTAS
Australia's Woodside Energy said it had signed a supply agreement with Turkish state-owned petroleum company BOTAS to deliver around 5.8 billion cubic meters of liquefied natural gas for up to nine years, starting in 2030.
This deal converts the non-binding head of agreement signed by the two parties in September into a binding commitment.
Under the agreement, LNG will be sourced mainly from the under-construction Louisiana LNG project in the United States, supplemented by supplies from the broader portfolio of Woodside, Australia's biggest natural gas producer.
Woodside's Louisiana LNG complex, which is the largest foreign investment in the southern state's history, was the first U.S. LNG project to receive the financial go-ahead after President Donald Trump returned to office in January and promised to unleash U.S. energy onto the world.
The project received final approval in late April and is slated to deliver its first gas in 2029.
"This supply agreement with BOTAŞ represents a strategic milestone for Woodside, given it is our first long-term LNG supply arrangement with the Turkish market," said Woodside Executive Vice-President and Chief Commercial Officer Mark Abbotsford.
"Woodside also appreciates the support shown by the Turkish and United States governments following the announcement of the HOA earlier this year."
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