TIDMWDS
RNS Number : 8005V
Woodside Energy Group Ltd
06 December 2023
Woodside Energy Group Ltd
ACN 004 898 962
Mia Yellagonga
11 Mount Street
Perth WA 6000
Australia
T +61 8 9348 4000
www.woodside.com
ASX: WDS
NYSE: WDS
LSE: WDS
Announcement
Wednesday, 6 December 2023
WOODSIDE AND MEXICO PACIFIC SIGN LNG SUPPLY AGREEMENT
Woodside has signed a sales and purchase agreement (SPA) with
Mexico Pacific Limited (Mexico Pacific) to purchase 1.3 million
tonnes per annum (Mtpa), equivalent to approximately 18 cargoes per
year, of liquefied natural gas (LNG) for 20 years.
LNG is expected to play a critical role in the energy transition
and long-term demand is anticipated to remain strong. This
agreement is consistent with Woodside's strategic objective of
building global scale and flexibility in its LNG portfolio.
Woodside CEO Meg O'Neill said, "As we deliver on our strategy,
we aim to complement Woodside's produced LNG supply with third
parties' volumes, giving us greater scale and portfolio flexibility
to serve our customers, while optimising our LNG trading
activities.
"This agreement with Mexico Pacific delivers a new source of LNG
into our trading portfolio, expands our geographic diversification
in the Pacific Basin and builds on our presence in Mexico.
"Mexico Pacific's Saguaro Energia LNG Project is located on the
Pacific coast of Mexico, providing proximity to key markets in
Asia."
Under the SPA, Woodside will purchase the LNG from the Saguaro
Energia LNG Project, located in Puerto Libertad, Sonora, Mexico on
a free-on-board basis with pricing linked to US gas indices.
The SPA is subject to Mexico Pacific taking a final investment
decision (FID) on the proposed third train at the Saguaro Energia
LNG Project. The FID is expected in the first half of 2024 and
commercial operations are targeted to commence in 2029.
"We are delighted to welcome Woodside, one of the most
established global LNG market participants, as a foundation
customer of Train 3, further validating the value of west coast
Mexican LNG," said Sarah Bairstow, President of Mexico Pacific. "We
look forward to continuing our collaborative relationship with
Woodside to bring additional supply online to address critical
energy security and energy transition needs."
Contacts:
INVESTORS MEDIA
Marcela Louzada (Group) Rohan Goudge (US) Christine Forster
M: +61 456 994 243 M: +1 (713) 679-1550 M: +61 484 112 469
E: christine.forster@woodside.com
Sarah Peyman (Australia) E: investor@woodside.com
M: +61 457 513 249
This announcement was approved and authorised for release by
Woodside's Disclosure Committee
Forward-looking statements
This announcement contains forward-looking statements with
respect to Woodside's business and operations, market conditions,
results of operations and financial condition, including, for
example, but not limited to, statements regarding long-term demand
for Woodside's products and the development, completion and
execution of third-party projects. All statements, other than
statements of historical or present facts, are forward-looking
statements and generally may be identified by the use of
forward-looking words such as 'guidance', 'foresee', 'likely',
'potential', 'anticipate', 'believe', 'aim', 'estimate', 'expect',
'intend', 'may', 'target', 'plan', 'strategy', 'forecast',
'outlook', 'project', 'schedule', 'will', 'should', 'seek' and
other similar words or expressions. Similarly, statements that
describe the objectives, plans, goals or expectations of Woodside
are forward-looking statements.
Forward-looking statements in this announcement are not
guidance, forecasts, guarantees or predictions of future events or
performance, but are in the nature of future expectations that are
based on management's current expectations and assumptions. Those
statements and any assumptions on which they are based are subject
to change without notice and are subject to inherent known and
unknown risks, uncertainties, assumptions and other factors, many
of which are beyond the control of Woodside, its related bodies
corporate and their respective officers, directors, employees,
advisers or representatives.
A more detailed summary of the key risks relating to Woodside
and its business can be found in the "Risk" section of Woodside's
most recent Annual Report released to the Australian Securities
Exchange and the London Stock Exchange and in Woodside's most
recent Annual Report on Form 20-F filed with the United States
Securities and Exchange Commission and available on the Woodside
website at
https://www.woodside.com/investors/reports-investor-briefings. You
should review and have regard to these risks when considering the
information contained in this announcement.
All forward-looking statements contained in this announcement
reflect Woodside's views held as at the date of this announcement
and, except as required by applicable law, Woodside does not intend
to, undertake to, or assume any obligation to, provide any
additional information or update or revise any of these statements
after the date of this announcement, either to make them conform to
actual results or as a result of new information, future events,
changes in Woodside's expectations or otherwise.
Investors are strongly cautioned not to place undue reliance on
any forward-looking statements. Actual results or performance may
vary materially from those expressed in, or implied by, any
forward-looking statements.
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END
AGRUPGWGPUPWUGQ
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December 06, 2023 02:00 ET (07:00 GMT)
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