Woodside Energy Signs MoU with Hyundai for LNG Collaboration

Woodside Energy has entered into a non-binding memorandum of understanding (MoU) with Hyundai Engineering and Hyundai Glovis, marking a significant step towards collaboration on liquefied natural gas (LNG) project development, engineering services, and shipping logistics.

The MoU outlines a strategic framework for the parties to work together to enhance execution capability and expand their presence in key LNG markets. By leveraging Woodside’s expertise in LNG development, Hyundai Engineering’s extensive experience in engineering, procurement, and construction, and Hyundai Glovis’s global shipping reach, the collaboration aims to meet the growing demand for LNG in the Asia-Pacific region and beyond.

Mark Abbotsford, Woodside Executive Vice President and Chief Commercial Officer, expressed optimism about the partnership, stating, “Woodside is pleased to strengthen our longstanding relationship with Hyundai through this agreement. We believe that our combined strengths and synergies will enable us to deliver top-quality LNG solutions to meet the increasing global demand.”

Myoung-Kun Son, Hyundai Engineering Chief Operating Officer, also shared his enthusiasm for the collaboration, stating, “This agreement provides Hyundai Engineering with the opportunity to expand our global LNG expertise by working alongside a world-class LNG developer. We are confident in our ability to contribute value across the entire engineering spectrum and provide integrated solutions for Woodside projects.”

The partnership between Woodside Energy, Hyundai Engineering, and Hyundai Glovis represents a strategic alliance that aims to capitalize on the growing demand for LNG and establish a strong presence in key markets. By combining their respective strengths and expertise, the parties are well-positioned to deliver innovative and sustainable LNG solutions to meet the evolving needs of the energy market.

With this MoU in place, Woodside Energy and Hyundai are set to embark on a collaborative journey that promises to drive growth, innovation, and sustainability in the LNG sector, setting a new standard for excellence in project development, engineering services, and shipping logistics.