SUNYA Energy

WOODSIDE AND CHINA RESOURCES AGREE LONG-TERM LNG SUPPLY

March 17, 2025
SUNYA Summary
- Woodside has signed a long-term sale and purchase agreement with China Resources Gas International Limited for the supply of liquefied natural gas to China. - The agreement entails the supply of approximately 0.6 million tonnes of LNG per year over 15 years, starting in 2027. - Woodside's Executive Vice President and Chief Commercial Officer Mark Abbotsford expressed satisfaction with the agreement, marking it as the fourth long-term LNG sales contract signed by the company in Asia since early 2024. - This agreement signifies Woodside's first long-term sale agreement with a customer in China, which is the largest LNG consuming market in Asia, and it is also the first such agreement for China Resources over a 15-year period. - The deal highlights the ongoing demand for LNG in Asian markets, as countries in the region aim to secure their energy supplies. - China Resources Gas Group Chairman Yang Ping expressed happiness in signing the long-term SPA with Woodside, acknowledging Woodside's strong global LNG portfolio and operational track record. - The signing of this SPA could pave the way for future collaboration between Woodside and China Resources on a global scale.
PRESS RELEASE

WOODSIDE AND CHINA RESOURCES AGREE LONG-TERM LNG SUPPLY 

Woodside has signed a long-term sale and purchase agreement (SPA) with China Resources Gas International Limited (China Resources) for the supply of liquefied natural gas (LNG) to China. 

The SPA provides for the supply of approximately 0.6 million tonnes of LNG per year over 15 years on a delivered basis, commencing in 2027. 

Woodside Executive Vice President & Chief Commercial Officer Mark Abbotsford welcomed the SPA, the company’s fourth agreement for long-term LNG sales into Asia signed since the start of 2024. 

“We are very pleased to have launched our relationship with China Resources, the country’s leading gas utility. 

“This marks the first time Woodside on a standalone basis has signed a long-term sale agreement with a customer in China, Asia’s largest consuming market for LNG. And it is the first time China Resources has signed an agreement to procure LNG over a period of 15 years.

 “The agreement again demonstrates the depth and length of demand for LNG in Asian markets as nations in the region seek to guarantee energy supplies.” 

China Resources Gas Group Chairman Yang Ping said: “We are delighted to sign our first-long term SPA with Woodside Energy, a leading supplier of LNG globally. Woodside's growing global LNG portfolio and its proven track record as an operator have created a solid foundation for the agreement. 

“The signing of this SPA will also open up the potential for future cooperation between the two companies globally.”