Woodside secures nine-year 5.8 bcm LNG supply deal with Turkey’s BOTAS

LNGLNG

Woodside Energy has agreed to supply 5.8 billion cubic meters of LNG to Turkey’s state-owned BOTAS over up to nine years, with deliveries beginning in 2030. This binding contract expands Woodside’s long-term export portfolio and potentially supports future revenue streams through 2039.

1. CCEC Orders Three Latest‐Generation LNG Carriers

Capital Clean Energy Carriers Corp. has entered into an en‐bloc shipbuilding contract with HD Hyundai Samho in South Korea for three advanced LNG carriers, at a total price of $769.5 million. One vessel is due for delivery in Q3 2028, with the remaining two entering service in Q1 2029. These ships feature optimized hull coatings, dual‐fuel MEGI propulsion with boil‐off gas reliquefaction systems, and reduced fuel consumption targets of under 0.07% daily boil‐off, positioning them among the most efficient vessels in the global LNG fleet. The order increases CCEC’s Newbuild LNG/C count to 12 and extends its delivery schedule through 2029, coinciding with projected global liquefaction capacity growth from 493 mtpa to at least 649 mtpa by 2030. Coupled with nine existing vessels in the water and ten additional gas carriers on order, CCEC’s fleet is underpinned by approximately $3 billion of contracted revenue and an average remaining charter duration of 6.9 years.

2. Woodside Signs Long–Term LNG Supply Deal with Turkey’s BOTAŞ

Woodside Energy has executed a binding agreement to supply approximately 5.8 billion cubic meters per annum of LNG to Turkish state‐owned BOTAŞ over a nine-year term beginning in 2030. The contract includes destination flexibility within BOTAŞ’s European regasification network and carries index‐linked pricing tied to Henry Hub plus a fixed margin. This deal secures offtake for Woodside’s forthcoming PNG LNG expansion project, slated for first gas in late 2029, and supports Turkey’s strategy to diversify gas imports away from pipeline supplies. Under the agreement, shipments will be scheduled to align with seasonal demand peaks in winter and summer maintenance windows, leveraging Woodside’s chartered fleet of multi-gas carriers equipped for tropical and sub-zero ambient operations.

Sources

RG