FRANKFURT, Dec 20 (Reuters) - Australian oil and gas group Woodside Petroleum (WPL) will supply more liquefied natural gas (LNG) to RWE RWEG.DE under a new deal signed with the utility, the German company said on Thursday.
Under the deal, the second with Woodside, deliveries will run from the fourth quarter of 2020 to December 2022 and will be sold under the Free on Board (FoB) formula, meaning the seller pays for loading and the buyer pays other costs, RWE said.
Woodside agreed last year to deliver up to 12 cargoes of LNG between April 2018 and March 2020 to the German utility.
The primary source of LNG for the new agreement will be from volumes Woodside contracted from the Corpus Christi LNG Project in Texas, RWE said, without disclosing the size of the volumes.
Andree Stracke, RWE's chief commercial officer for supply and trading, said the deal "represents another key building block in the further development of RWE's flexible LNG portfolio."
German utilities, gas suppliers and logistics companies are looking at reviving years-old plans to build an LNG import terminal as part of a bid to diversify away from pipeline gas arriving from Russia, Norway and the Netherlands.
