Australia’s Woodside Energy Group Ltd. has signed a memorandum of understanding (MOU) with Hyundai Engineering and Hyundai Glovis covering LNG project development, engineering services and shipping logistics.
“Woodside is pleased to be deepening our longstanding relationship with Hyundai through this agreement. We are confident the synergies and complementary strengths of our organizations will support the delivery of high-quality LNG solutions to meet growing global demand”, Mark Abbotsford, Woodside Executive Vice President and Chief Commercial Officer, said in a media release.
Woodside said the parties will focus on advancing execution capability and extending their reach into priority LNG markets.
“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”, Myoung-Kun Son, Hyundai Engineering Chief Operating Officer, said.
Woodside’s success in LNG development, Hyundai Engineering’s broad experience in engineering, procurement, and construction, and Hyundai Glovis’s worldwide shipping capabilities together position the parties to effectively meet increasing LNG demand in Asia-Pacific markets and some new regions, Woodside said.
“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”, Taewoo Kim, Hyundai Glovis Head of Logistics Business, said.
To contact the author, email andreson.n.paul@gmail.com
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