Woodside Petroleum’s $45 billion contract to sell LNG to PetroChina has expired, but some are seeing an opportunity for more lucrative deals to be forged.
Plans to sell liquefied natural gas from the Browse project were canned, after the targeted supply date was recognised as being out of reach. The deal could have been one of Australia’s biggest export contracts.
Despite this bad news, some analysts are suggesting there’s opportunity now for Woodside to pursue deals with other Asian buyers, specifically Japan, who are likely to offer more appealing terms than China.
Traders capitalised on the news as well, with the share price gaining 33 cents, to $47.53 at the close of trading yesterday.
Woodside Petroleum
ASX Code: WPL
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For more on this news:
The Australian: “Browse delays blow $45bn gas deal”
Bloomberg: “Woodside’s PetroChina Browse Gas Sale Accord Expires”
Tags: exports to China, LNG, PetroChina, Woodside, WPL
