The Australian company Woodside Petroleum has signed a sales agreement with RWE Supply & Trading (the trading subsidiary of the German utility RWE) to deliver up to 12 LNG cargoes between April 2018 and March 2020. The terms of the supply deal were not disclosed but it reflects the further diversification of Woodside`s buyers portfolio and the increasing interaction between the Atlantic and Asia-Pacific LNG markets.
As of August 2017, 93% of Woodside Energy`s expected LNG production was sold, of which 88% of its LNG production was committed under short, medium and long-term oil-linked contracts, while the remaining output stands available for spot sales in case of potential operational uncertainty. In the first half of 2017, 77% of the LNG volumes were sold under long-term contracts, 14% under short and mid-term contracts and 9% on the spot market. Besides, 83% of the 2018 expected LNG production is committed under oil-linked contracts.
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