Woodside Wins Big: Secures Decade-Long LNG Deal with Taiwan's CPC

Woodside Energy Group Ltd WDS entered into a long-term sale and purchase agreement (SPA) with CPC Corporation to supply liquefied natural gas (LNG) to Taiwan.

Under the SPA, Woodside will deliver about 6 million tonnes of LNG over ten years, starting in July 2024.

As per the deal, Woodside may supply an additional 8.4 million tonnes of LNG to CPC from 2034 to 2043, pending conditions and a term agreement.

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, Woodside Energy achieved its first oil from the Sangomar field offshore Senegal, marking its first offshore oil project.

Price Action: WDS shares are up 2.19% at $19.81 at the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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