Chinese LNG importers have re-engaged with Woodside Petroleum on potential long-term purchasing deals for offtake from the $16 billion Scarborough project in Western Australia as appetite for new contracts sharpens amid the current super-tight spot market.
Chief executive Peter Coleman said China's demand for LNG had continued to grow, by 8 to 10 per cent last year, while prospective new LNG projects were now thinner on the ground as last year's price slump took a toll on some rivals' balance sheets.