Woodside signs LNG supply deal with Korea Gas

Woodside Petroleum Ltd. has signed a sales and purchase agreement with Korea Gas Corp. for a maximum supply of 2.2 million tonnes of LNG during 3 years from its 4.3 million tonne/year Pluto LNG plant on the Burrup Peninsula near Karratha in Western Australia.

Gas will be sourced from previously uncommitted volumes.

Previous sales deals struck with foundation customers Kansai Electric Power Co. and Tokyo Gas Co. Ltd. in 2007 have been reduced from 3.75 million tpy to 3.2 million tpy.

Woodside holds 90% interest in the Pluto project with Kansai Electric and Tokyo Gas each holding 5%.