5th Sep 2022 14:41
(Alliance News) - Uniper SE and Woodside Energy Group Ltd on Monday said they signed an agreement to supply up to 800,000 tonnes of liquefied natural gas per year to Europe.
German energy company Uniper has signed an agreement with Australian energy firm Woodside, which will see Woodside supply LNG to Europe from January 2023 up to 2039. The firms emphasise that the deal will supply Germany, which has no LNG ports. In July, the country announced it plans to finish building a floating LNG terminal by the end of 2022.
Woodside Energy shares rose 5.9% to 2,132 pence each in London while Uniper shares fell by 10% to EUR5.09 each on Monday afternoon in Frankfurt.
"Supply from September 2031 is conditional upon Uniper finalising its long-term strategic capacity bookings in Northwest Europe, expected by March 2023," both companies explained.
"Woodside is pleased that this latest agreement with Uniper will provide a new source of LNG for consumers in Europe who are seeking alternatives to Russian gas. It also reflects the increasingly interconnected nature of LNG trade in the Atlantic and Pacific basins as global markets respond to energy security challenges," said Woodside Chief Executive Officer Meg O'Neill.
Uniper Chief Executive Klaus-Dieter Maubach said the agreement "will support our security of supply strategy together with the development of our LNG terminal in Wilhelmshaven. Woodside is one of our biggest LNG suppliers in Asia and we are pleased to extend the cooperation with Woodside to Europe with this deal."
By Tom Budszus; [email protected]
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