Woodside in new deal to secure energy supply for Japan


US-based Woodside Energy (Woodside) has joined forces with the Japan Bank for International Cooperation (JBIC) in a move that aims to secure a stable supply of energy for Japan and accelerate its decarbonisation goals.

Announced yesterday (1st Nov), the partners signed a non-binding Memorandum of Understanding (MoU) which will see both parties identifying potential projects which Woodside may be able to collaborate on with Japanese companies.

These projects will cover areas such as liquefied natural gas (LNG) supply and new energy products and lower-carbon services, such as hydrogen, ammonia, carbon capture and storage (CCS) and carbon capture, utilisation and storage (CCUS).

Having worked together since the Woodside-operated North West Shelf Project in the 1980s, the partners’ relationship entered a ‘new phase’ in 2008 when JBIC signed a $1bn loan agreement with Woodside for the Pluto LNG project.

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