Woodside signs 15-year LNG deal with China

Woodside Energy Group Ltd. has signed a 15-year liquefied natural gas (LNG) supply deal with China Resources Gas International. This is the first binding agreement between Chinese and Australian companies for LNG in several years. Starting in 2027, Woodside will deliver about 600,000 tons of LNG annually. This agreement comes as Chinese firms are less inclined to buy gas from the U.S. due to recent tariffs. The deal marks a significant step in improving relations between Australia and China, which had soured since 2020. China Resources is a major gas distributor, and its new LNG terminal is expected to begin operations in early 2026.