Woodside has signed a sale and purchase agreement (SPA) with JERA for the long-term supply of LNG to Japan.
Under the SPA, Woodside will supply approximately 0.4 million tpy of LNG over 10 years on a delivered basis, commencing in April 2026.
LNG delivered to JERA under the SPA will be sourced from volumes across Woodside’s global portfolio.
The execution follows the announcement in February whereby Woodside reached an agreement for the sale to JERA of a 15.1% non-operating participating interest in the Scarborough Joint Venture.
Mark Abbotsford, Woodside Executive Vice President and Chief Commercial Officer, said the execution of the SPA strengthened the commitment to explore business opportunities alongside JERA.
Woodside expects the Scarborough equity sale to JERA to be completed before the end of 2024.