LNG: Woodside terminates SPAs with Commonwealth LNG: Platts
May-08 16:28
Woodside Energy has terminated its LNG sale and purchase agreements with Commonwealth LNG due to the latter's failure to meet key milestones, Platts said.
- The agreements, signed in September 2022, were meant to secure up to 2.5m mtpa of LNG over 20 years from Commonwealth’s planned 9.5m mtpa export terminal in Louisiana.
- The cancellation comes amid Europe's push for alternatives to Russian pipeline gas.
- Meanwhile, Woodside announced a final investment decision for its Louisiana LNG project, formerly known as Driftwood LNG, aiming for first production by 2029.
- The facility has a planned capacity of 16.5m mtpa, with full permitting for up to 27.6m mtpa.
- Woodside CEO Meg O’Neill described the project as a 'game changer,' expecting the company to deliver around 24 million mt/year of LNG in the 2030s, making up over 5% of global supply.
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