GLNG: Woodside signs binding supply agreements with Commonwealth LNG

A Woodside Energy subsidiary, Woodside Energy Trading Singapore, has converted its non-binding heads of agreement (HoA) deals with the US’ Commonwealth LNG into two binding sale and purchase agreements (SPAs).
The SPAs cover the supply of up to 2.5mn tonnes per year (tpy) of LNG over a 20-year period from Commonwealth’s proposed export terminal in Louisiana, on the US Gulf Coast. The main terms set out in the HoA, which was announced in January 2022, remain unchanged in the SPAs, Woodside said. The volume agreed is at the upper end of the amount the two companies had first agreed to under the HoA, with Woodside exercising the option to buy 2.5mn tpy rather than 2.0mn tpy.
First LNG deliveries under the SPAs are anticipated in mid-2026. However, the deals are still conditional on certain milestones being reached, including a final investment decision (FID) on the Commonwealth LNG export terminal.