Woodside and BOTAŞ have signed a sale and purchase agreement (SPA) for the long-term supply of liquefied natural gas (LNG).
Under the agreement, Woodside will supply BOTAŞ a total of approximately 5.8 billion cubic meters natural gas equivalent, or 0.5 million tonnes per annum of LNG, for a period of up to nine years starting in 2030.
This milestone marks the successful conversion of the non-binding Heads of Agreement (HOA) signed in September this year into a binding commitment, reinforcing the shared ambition of both companies to deepen cooperation across the LNG value chain.
Under the agreement, LNG will be supplied primarily from the under-construction Louisiana LNG project in the United States as well as from Woodside’s broader portfolio.
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Woodside Executive Vice President and Chief Commercial Officer Mark Abbotsford said: “This supply agreement with BOTAŞ represents a strategic milestone for Woodside given it is our first long-term LNG supply arrangement with the Turkish market. It is yet another demonstration of the strength and flexibility of Woodside’s diversified portfolio and ability to deliver on our global ambitions.
“Woodside also appreciates the support shown by the Turkish and United States governments following the announcement of the HOA earlier this year.”
The agreement reflects the strengthened Turkish-US relationship and paves the way for Woodside to build a larger strategic relationship with BOTAŞ that supports energy security and economic growth for Türkiye and the United States.
SOURCE: Businesswire