Woodside and Uniper in talks over LNG supply

Australia’s energy giant Woodside Energy is engaged in discussions with Germany’s Uniper regarding a potential liquefied natural gas (LNG) supply deal.

While confirming its ongoing talks with Uniper for LNG supply, Woodside highlighted that these discussions were incomplete. As a result, the duo has not yet reached any final agreement on the terms.

Previously, the Australian firm signed a flexible long-term sale and purchase agreement (SPA) with Uniper in September 2022 to supply LNG from its global portfolio into Europe, including Germany, for a term up to 2039, starting in January 2023.

The LNG deal covers up to twelve cargoes per year, equivalent to more than 0.8 million tons per annum or one billion cubic meters of natural gas. However, the supply from September 2031 was conditional upon Uniper finalizing its long-term strategic capacity bookings in Northwest Europe, expected by March 2023.

The confirmation of the talks with Uniper comes only a week after Woodside disclosed a deal with Stonepeak for the sale of a stake in its Louisiana LNG development on the U.S. Gulf Coast.