Woodside Energy has signed a non-binding memorandum of understanding (MoU) with Hyundai Engineering and Hyundai Glovis, establishing a strategic framework to collaborate on LNG project development, engineering services, and shipping logistics.
The MoU will see the parties focus on advancing execution capability and extending their reach into priority LNG markets.
Woodside Executive Vice President and Chief Commercial Officer, Mark Abbotsford, said: “Woodside is pleased to be deepening our longstanding relationship with Hyundai through this agreement. We are confident the synergies and complementary strengths of our organisations will support the delivery of high quality LNG solutions to meet growing global demand.”
Hyundai Engineering Chief Operating Officer, Myoung-Kun Son, added: “This agreement allows Hyundai Engineering to broaden our global LNG experience by working alongside a world-class LNG developer. We are confident in our ability to add value across the full engineering spectrum and deliver integrated solutions for Woodside projects.”
Hyundai Glovis Head of Logistics Business Division, Taewoo Kim, concluded: “We are proud to partner with Woodside to explore long-term maritime solutions that support reliable LNG supply. Our global shipping footprint and expertise make us well-positioned to contribute to this strategic collaboration.”
The combination of Woodside’s success in LNG development, Hyundai Engineering’s extensive engineering, procurement and construction experience, and Hyundai Glovis’s global shipping reach positions the parties to respond to growing LNG demand across Asia-Pacific markets and selected new regions.