Woodside Widens Options for US LNG Exports


Woodside Energy Ltd. is considering additional options for supplying liquefied natural gas to North America after changing the relationship between a subsidiary company and Crystal Energy LLC over the development of a receiving terminal off California.

Woodside Energy (USA) Inc., a wholly owned subsidiary of Woodside Energy Ltd., and Crystal Energy have agreed to end a heads of agreement for the development of the proposed Clearwater Port.

Under the heads of agreement, signed in October 2004, Woodside agreed to provide technical expertise and funding to progress project approvals for the development of Clearwater Port in return for preferential negotiation rights to access the terminal's capacity.

Both companies will continue discussions over the supply of LNG to Clearwater Port, although Woodside will concurrently consider the possible development of its own LNG receiving terminal off California.

Woodside's Chief Executive Officer, Don Voelte, said North America was an important future market for Woodside.

"Demand for LNG in the United States is expected to grow more than eight-fold over the next 20 years, making it one of the world's biggest markets," Mr Voelte said.

"Our strong reserve base in Australia and our position as an experienced producer of LNG has Woodside ideally placed to supply that market.

"We want to consider additional options and opportunities available to us for the export of natural gas to North America."