Woodside has entered into a long-term gas supply agreement with bp, under which the global energy company will supply natural gas to the Louisiana LNG project. The agreement represents the first tranche of a diversified feedgas portfolio, made possible by the project’s extensive interconnectivity with multiple producing basins and pipeline networks.
The agreement marks a significant milestone for the Louisiana LNG project, which is expected to deliver strong cash flow and create long-term shareholder value. Woodside’s CEO, Meg O’Neill, noted the importance of this development:
“Louisiana LNG is a compelling investment, expected to deliver significant cash generation and create long-term shareholder value. Securing this gas supply agreement is an important step for the project.
Woodside has a long history of successful collaboration with bp. By drawing upon bp’s experience with MiQ certificates, we can access verifiably low methane intensity molecules for the Louisiana LNG project. This supports Woodside’s goals as a member of the UN Environment Programme’s OGMP 2.0 initiative.”
Under the terms of the agreement, Louisiana LNG Gas Management LLC (GasCo), a wholly owned subsidiary of Louisiana LNG LLC, will purchase up to 640 billion cubic feet of gas from bp on a long-term basis. Delivery is scheduled to commence to Line 200 in 2029.
GasCo will manage the overall gas sourcing strategy to ensure consistent feedgas supply to the Louisiana LNG project, positioning it for long-term success in a transitioning energy landscape.
For more information visit www.woodside.com
