For Andree Stracke, Chief Commercial Officer Origination & Gas Supply at RWE Supply & Trading, this transaction demonstrates RWE’s ongoing commitment to expanding its global LNG portfolio: “We are delighted to enter into a longer-term LNG supply agreement with Woodside which further reinforces our strong relationship. The volumes will continue to enable us to deliver effective LNG solutions to our customers and will provide a platform to further advance our existing business in Asia.”
Woodside Executive Vice President Development and Marketing Meg O’Neill said the signing of the SPA with RWE was further evidence of the strong market demand for LNG in the second half of this decade: “Customers are increasingly seeking to secure new energy supplies in a timeframe which supports the development of our Scarborough offshore gas resource and the expansion of the Pluto facility with the addition of a second LNG production train. This agreement with RWE is another demonstration of the momentum we are gathering ahead of our targeted FID on Scarborough and Pluto Train 2 in the second half of this year. The SPA also provides the opportunity for Woodside and RWE to explore the potential for carbon-neutral LNG production and trading.”
The Scarborough gas field is a natural gas field located on the coast of Western Australia and the Pluto LNG facility processes gas from these offshore gas fields. Woodside is proposing a brownfield expansion of Pluto through the construction of a second gas processing train named Pluto Train 2.
In October 2020, Woodside also signed a memorandum of understanding (MOU) with RWE. Woodside is presently exploring options associated with producing hydrogen at export scale in the future. Under the MOU, Woodside and RWE will explore the potential of marketing hydrogen from such production to RWE’s customer base in Asia and Europe. Hydrogen will play a key role in the future global energy mix as a climate neutral fuel. RWE is driving forward some 30 hydrogen projects, mostly located in the Netherlands, Germany and the UK (more information at www.rwe/hydrogen).
About Woodside Energy
Woodside led the development of the LNG industry in Australia and is applying this same pioneering spirit to solving future energy challenges. As Australia’s leading LNG operator, Woodside operated 6% of global LNG supply in 2020.
RWE Supply & Trading is the interface between RWE and the energy markets around the world. Approximately 1,600 employees from 40 countries trade electricity, gas, commodities and CO2 emission allowances. Accurate market analyses and a high degree of customer centricity enable them to create innovative energy supply solutions as well as risk management concepts for industrial operations. The trading company also ensures the commercial optimisation of power plant dispatch at RWE and markets electricity from renewables. In addition, there are the legally independent RWE gas storage companies under the umbrella of RWE Supply & Trading.
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