Woodside inks 15-year LNG supply deal with China Resources

China

PERTH, March 17, 2025 – Woodside Energy has signed a long-term sale and purchase agreement with China Resources Gas International under which it will supply the Chinese company 600,000 tonnes per year of LNG, Woodside announced on Monday.

The agreement covers a period of 15 years, with deliveries scheduled to begin in 2027.

“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,” said Mark Abbotsford, executive vice-president and chief commercial officer of Woodside.

Woodside has been making inroads into Asian LNG markets with long-term supply agreements and has signed deals in the past year with Japan’s JERA, Taiwanese state-owned oil and gas company CPC Corporation and South Korea’s Kogas.

The company has also attracted Asian partners to its Scarborough gas and LNG project in Western Australia, with LNG Japan taking a 10% interest in August 2023 for approximately USD 500 million and JERA taking 15.1% in February 2024 for about USD 1.4 billion.

Photo of Pluto LNG processing plant courtesy of Woodside