Australian player seals deal to supply Taiwan with LNG until mid-2030s

Australia’s energy giant Woodside has signed a sale and purchase agreement (SPA) with Taiwanese state-owned petroleum, natural gas, and gasoline company CPC Corporation to deliver liquefied natural gas (LNG) to Taiwan.

Under the SPA, Woodside will provide around 6 million tonnes of LNG, which it intends to source from volumes across its global portfolio, on a delivered basis for ten years. The contract period is slated to start this month.  

Subject to certain conditions and agreement on terms, an additional 8.4 million tonnes of LNG may be delivered to CPC for a further ten-year period, ending in 2043.

Woodside’s CEO, Meg O’Neill, said: “This agreement with CPC for long-term supply to Taiwan is a first for Woodside and another demonstration of the ongoing demand for Australian LNG in Asian markets. It also reinforces the value our customers place on Woodside’s ability to maintain safe and reliable supply of energy into the 2030s.”

Last month, the Taiwanese player closed the deal to purchase a 5% interest from QatarEnergy in the latter’s North Field East (NFE) LNG expansion project. CPC will join the ranks of major oil and gas players – TotalEnergies, Shell, ExxonMobil, ConocoPhillips, Eni, Sinopec, and CNPC – in a project aiming to increase Qatar’s LNG production capacity from 77 to 142 mtpa in 2030.​

Meanwhile, the Australian major announced a management reshuffle last month, scheduled to take effect on August 1. The revised leadership structure is meant to simplify its core business activities and streamline the delivery of the next phase of its energy transition strategy.

Earlier this week, the firm hired Cenergy Holdings’ affiliate Corinth Pipework to manufacture and supply high-frequency welded (HFW) steel pipes for the Trion field, situated in Mexican waters of the Gulf of Mexico.