Woodside has signed a sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for the long-term supply of liquefied natural gas (LNG) to Korea.
As the debate about carbon capture and storage (CCS) rages on elsewhere, carbon dioxide has been successfully stored deep below the North Sea outside the coast of Norway since 1996, in the world’s first commercial CCS project.
The aim of the agreement is to establish a successful local wind power industry driven by Ørsted's 1.6 GW offshore wind project off the coast of Incheon.
Woodside has broadened its strategic relationship with JERA through a transaction that involves three core elements: equity in the Scarborough Joint Venture; LNG offtake; and collaboration on opportunities in new energy and lower carbon services.