Woodside Petroleum Limited
(ASX:WPL) is all set to purchase 850,000 tonnes of LNG from Corpus Christi Liquefication in a deal announced in July last year.
The oil producer says the subsidiary of Cheniere Energy has met conditions including building two train lines at its site in Texas.
The deal is a twenty year agreement and includes an extension option of ten years and there’s also an additional cancelation mechanism that allows a per unit cost to forgo deliveries as long as notice is given.
CEO Peter Coleman says the volumes complement Woodside’s existing portfolio and provide a strong base to leverage new volumes from Browse, Kitimat and other sources.
Woodside Petroleum reported a net profit of $3.06 billion over the full 2014 calendar year.
