Woodside and Türkiye’s BOTAŞ have signed a sale and purchase agreement (SPA) for the long-term supply of liquefied natural gas (LNG).
Under
the agreement, Woodside will supply BOTAŞ a total of approximately 5.8 billion
cubic meters natural gas equivalent, or 0.5 million tonnes per annum of LNG,
for a period of up to nine years starting in 2030.
This marks
the conversion of the non-binding Heads of Agreement (HOA) signed in September
this year into a binding commitment, reinforcing the shared ambition of both
companies to deepen cooperation across the LNG value chain.
Under
the agreement, LNG will be supplied primarily from the under-construction
Louisiana LNG project in the United States as well as from Woodside’s broader
portfolio.
Mark Abbotsford,
Woodside Executive Vice President and Chief Commercial Officer, said: “This
supply agreement with BOTAŞ represents a strategic milestone for Woodside given
it is our first long-term LNG supply arrangement with the Turkish market. It is
yet another demonstration of the strength and flexibility of Woodside’s
diversified portfolio and ability to deliver on our global ambitions. Woodside
also appreciates the support shown by the Turkish and United States governments
following the announcement of the HOA earlier this year.” -TradeArabia News Service
