Wedoany.com Report-Dec.29, Australia's Woodside Energy announced on Monday that it has entered into a binding supply agreement with Turkey's state-owned petroleum company BOTAS. The deal covers the delivery of approximately 5.8 billion cubic meters of liquefied natural gas (LNG) over a period of up to nine years, starting from 2030.

This agreement formalizes and converts the non-binding heads of agreement (HOA) that the two companies signed in September into a firm commitment.

Under the terms, the LNG will be primarily sourced from Woodside's Louisiana LNG project, which is currently under construction in the United States. Supplies will be supplemented as needed from Woodside's wider global portfolio. Woodside is Australia's largest natural gas producer.

The Louisiana LNG complex represents the largest foreign investment in the history of the southern U.S. state. It became the first U.S. LNG project to receive final financial approval following the return of President Donald Trump to office in January. He had pledged to expand U.S. energy exports globally. The project secured its final approval in late April and is expected to begin delivering its first cargoes in 2029.

"This supply agreement with BOTAŞ represents a strategic milestone for Woodside, given it is our first long-term LNG supply arrangement with the Turkish market," said Woodside Executive Vice-President and Chief Commercial Officer Mark Abbotsford.

"Woodside also appreciates the support shown by the Turkish and United States governments following the announcement of the HOA earlier this year," he added.

The long-term contract strengthens energy cooperation between the companies and supports reliable LNG supply to the Turkish market starting in the next decade. The agreement reflects Woodside's growing presence in global LNG markets and highlights the importance of the Louisiana project in meeting international energy demand.