Woodside, RWE Sign LNG Deal

Australia’s Woodside has agreed to supply LNG to Germany’s RWE under a new mid-term deal building on an agreement signed last year.

Woodside Energy Trading Singapore has signed an agreement with RWE Supply & Trading for supply of LNG commencing in the fourth quarter of 2020 and in effect until December 2022, Woodside said December 20 without providing details of the volume contracted.

The LNG will be supplied on an FOB basis with the primary source being volumes Woodside has contracted from the Corpus Christi LNG Project in Texas, USA.

“This new agreement builds on existing mid-term sale arrangements commenced in 2017 and illustrates the growing business relationship between our companies,” Woodside EVP marketing trading & shipping Reinhardt Matisons said.

“It is also a further demonstration of the diversification of our transaction activity across both the Asia-Pacific and Atlantic LNG markets,” he said.

RWE Supply & Trading chief commercial officer Andree Stracke said: “This transaction demonstrates the growing global cooperation of our two companies, and represents another key building block in the further development of RWE’s flexible LNG portfolio.”