Woodside, Adani Reach LNG Agreement

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Monday, January 12th, 2015
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Woodside Petroleum is looking to take advantage of India’s growing demand for liquid natural gas after agreeing to partner with conglomerate Adani Group.

 The Perth-based oil and gas business signed a memorandum of understanding with Adani in the Indian state of Gujarat at the weekend that will see the two companies work together to identify and develop potential LNG projects.

Chief executive Peter Coleman said the memorandum was part of Woodside’s efforts to tap the potential of the country’s LNG market.

“India is an important emerging LNG market in which we see enormous supply potential as infrastructure is developed,” he said.

He said the memorandum also signified the growing relationship with Adani, which is best known in Australia for its planned coal mine in Queensland.

The company’s $16.5 billion Carmichael mine project has drawn the ire of environmentalists who fear it could threaten groundwater in the Great Artesian Basin.

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