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Commonwealth LNG Signs Agreements with Woodside

9/5/2022

Woodside Energy - Press release

Commonwealth LNG, a subsidiary of Commonwealth Projects, and Woodside Energy Trading Singapore Pte Ltd, a subsidiary of Woodside Energy Group Ltd, are pleased to announce the conversion of their non-binding heads of agreement into two binding LNG Sale and Purchase Agreements (SPAs), signed 2 September 2022.

The SPAs are for the supply of up to 2.5 million tonnes per annum (Mtpa) of LNG over 20 years from
Commonwealth’s LNG export facility under development in Cameron Parish, Louisiana. Key terms in the HOA
previously announced on 19 January 2022 remain unchanged in the binding SPAs, with first deliveries
expected to commence in mid-2026. The SPAs will become fully effective upon the satisfaction of customary
conditions including an affirmative final investment decision on the project.
“We’re very pleased to have Woodside involved in our project,” said Commonwealth Executive Chairman Paul
Varello. “Woodside is known throughout the LNG industry for its keen technical capabilities and commercial
agility. These SPAs establish Woodside as a cornerstone customer and mark a major milestone in the
development of Commonwealth LNG.”
Commonwealth President and CEO Farhad Ahrabi added: “Our modular construction approach allows
Commonwealth LNG to provide greater cost and schedule certainty to customers as we deliver affordable,
reliable, cleaner energy to meet global demands. We’re proud to have an international LNG customer of
Woodside’s stature recognize these advantages and show this level of commitment.”
Woodside CEO Meg O’Neill said the agreements provided the basis for a long-term partnership with
Commonwealth LNG.
“The agreements secure for Woodside low-cost LNG volumes in the Atlantic Basin in a period of expected
strong demand as Europe seeks alternatives to Russian pipeline gas,” she said.