Germany's Uniper, Australia's Woodside Agree on LNG Supplies to Europe From 2023 - Company

MOSCOW (Sputnik) - German energy corporation Uniper and Australia's Woodside Energy have signed an agreement on supplies of liquefied natural gas (LNG) to Europe, starting 2023, Uniper said on Monday.

"Woodside Energy Trading Singapore Pte Ltd (Woodside) has entered into a flexible long-term sale and purchase agreement (SPA) with Uniper Global Commodities SE (Uniper) for Woodside to supply LNG from its global portfolio into Europe, including Germany, for a term up to 2039, commencing in January 2023," Uniper's press release read.

The company noted that twelve cargoes will be shipped per year, which is equivalent to one billion cubic meters of natural gas.

According to the press release, LNG supply from September 2031 is conditional upon Uniper finalizing its long-term strategic capacity bookings in Northwest Europe, which is expected by March 2023.

"This agreement secures additional LNG supplies for our customers in Europe, which has become ever more important due to recent developments. It will support our security of supply strategy together with the development of our LNG terminal in Wilhelmshaven," Uniper Group CEO Klaus-Dieter Maubach said on Monday.

Uniper is one of Europe's leading energy producing companies, headquartered in Dusseldorf, Germany. For the last several months the company has experienced major financial losses, as the volumes of natural gas it received from Russia had fallen by 80% since June. In July, Uniper received a state credit worth 9 billion euros ($9 billion), and is now seeking to extend its credit line by another 4 billion euros ($4 billion).