AUSTRALIAN FIRM SIGNS 15-YEAR LNG SUPPLY DEAL WITH CHINA

Australian firm signs 15-year LNG supply deal with China

AUSTRALIAN FIRM SIGNS 15-YEAR LNG SUPPLY DEAL WITH CHINA

Australian energy firm Woodside has signed a deal to supply liquefied natural gas (LNG) to China with China Resources Gas, according to Reuters.

Under the terms of the deal, Woodside will supply China with about 600,000 tonnes of LNG per year for 15 years, starting in 2027.

The Australian firm noted that this was Woodside’s first long-term standalone deal with a Chinese buyer and the first time China Resources Gas has committed to buying LNG for 15 years.

Based on 2024 results, Australia ranks first among LNG suppliers to China (26.19 million tonnes), followed by Qatar (18.34 million tonnes) and Russia (8.3 million tonnes). The latter increased its LNG supply to China by 3.3% last year.