Woodside Signs Binding Agreement With BOTAŞ to Supply LNG From 2030
Key Facts
Woodside Energy said on December 29, 2025, that it had signed a long-term liquefied natural gas sale and purchase agreement with Turkey’s BOTAŞ, converting the memorandum of understanding signed in September into a binding commitment. The agreement is the company’s first long-term arrangement to supply LNG to the Turkish market, according to its executive vice president of marketing and trading. The memorandum of understanding covered the supply of about 5.8 billion cubic metres of LNG equivalent for up to 9 years starting in 2030. Woodside’s 2025 Investor Day presentation listed approximately 0.5 million tonnes a year to BOTAŞ for the same period. The agreement gives the company a long-term Turkish buyer, while the start of supply remains tied to the 2030 date.
The binding announcement followed an initial agreement Woodside announced on September 24, 2025, describing the understanding as a heads of agreement, not a final sale and purchase contract. The company said at the time that the supply arrangement was conditional on the parties entering into a binding sale and purchase agreement; that condition was subsequently met with the signing of the agreement in December. The Investor Day presentation included the annual volume and term, and also noted the requirement for a binding agreement. The agreement, which had been presented as part of Woodside’s diversified sales to Turkey, is now a contract signed by both parties. In its September announcement, the company estimated the total volume at about 5.8 billion cubic metres of LNG equivalent.
Woodside said supplies would come mainly from its Louisiana LNG project, which is still under construction in the United States, as well as from the company’s broader portfolio. This makes the project the anticipated main source of cargoes, while allowing supply from Woodside’s other portfolio assets. The company is targeting the start of LNG production from the project in 2029, according to its October 2026 filing with the U.S. Securities and Exchange Commission on its agreement with QatarEnergy. The targeted production date is before the agreed start of supply to BOTAŞ in 2030. The project’s ability to meet its announced schedule remains relevant to delivering the supplies on which the agreement primarily relies.
BOTAŞ data show that Turkey’s natural gas imports reached 58.920 billion cubic metres in 2025, compared with 52.756 billion in 2024, and stood at 40.238 billion through September 2026. Domestic sales totalled 59.358 billion cubic metres in 2025, versus 53.093 billion in 2024, and then 39.960 billion through September 2026. Natural gas exports rose to 2.323 billion cubic metres in 2025 from 1.809 billion in 2024, reaching 1.827 billion through September 2026. The figures place the supply contract in a Turkish market with substantial imports and domestic sales, alongside export flows. BOTAŞ said new supply agreements support its vision for long-term security of supply, price stability and diversification of energy sources.
In its 2025 Investor Day presentation, Woodside said it had signed contracts for about 5 million tonnes a year over the previous two years within its Asia division. The figure provides context for the company’s commercial efforts to expand its contracts, but does not change the separate volume listed for BOTAŞ, at about 0.5 million tonnes a year. In the market, Woodside shares closed at 21.44 on November 5, 2026, compared with 23.55 on October 30. These are moves recorded in trading sessions before the binding agreement announcement in December 2025, so they do not represent a reaction to it. The next operational milestone cited in the company’s filing remains its target for first production from the Louisiana project in 2029.