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New Austria Group and Odyssey Energy signed a long-term purchase and sale framework agreement

Recently, New Austria Group signed a framework agreement with Woodside Energy. According to the framework agreement, Audsay Energy will supply 1 million tons of LNG to New Austria every year starting in 2025 for a period of 10 years. The two sides also need to negotiate and sign a long-term LNG purchase and sale agreement on the basis of the framework agreement. The final agreement is subject to the approval of both boards of directors and is based on the final investment decision of the Scarborough project. New Austria is one of the largest distributors of clean energy in China's private enterprises, with 187 urban gas projects covering 94.57 million people. In 2018, the sales of natural gas in New Austria exceeded 23.3 billion cubic meters, accounting for 8% of the national market. In the same year, the first large LNG receiving station invested by private enterprises in China, the New Austria Zhoushan LNG receiving station, was officially put into operation. Based on the rapid development of downstream market demand, New Austria has actively sourced the upstream market at home and abroad. It has signed a number of medium-term, long-term and short-term LNG purchase and sale agreements, and initially formed a global network of international procurement and trade. China's natural gas consumption is growing rapidly. In 2018, China's natural gas consumption was 280.3 billion cubic meters and imported 54 million tons of LNG. It is the world's largest natural gas importer and the second largest LNG importer. Australia is the nearest LNG supplier to China, ranking first among the source countries of LNG imports in China. Odyssey Energy is Australia's largest natural gas producer, listed on the Australian Stock Exchange. Since 1989, Odyssey has supplied 5,000 LNG vessels to the global market, including the Northwest Continental Shelf Project (NWS), Pluto Project (Pluto), Wheatstone Project (Wheatstone), Corpus Christi Project (Corpus Christi), Scarborough Project (Scarborough) and Browse Project (Browse). Odyssey Energy established its representative office in Beijing in 2005.