Woodside Energy has entered into a non-binding memorandum of understanding (MOU) with Hyundai Engineering and Hyundai Glovis, moving towards expanding collaboration in LNG project development, engineering services, and shipping logistics.
The agreement establishes a strategic framework for the three companies to work together, focusing on enhancing execution capabilities and broadening their reach into priority LNG markets.
The partnership aims to leverage the unique strengths and synergies of each organisation to deliver high-quality LNG solutions to meet the increasing global demand.
Woodside Executive Vice President and Chief Commercial Officer Mark Abbotsford expressed enthusiasm for the new partnership, stating: “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 also welcomed the collaboration, highlighting the opportunity for growth and innovation, stating: “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.”
Echoing this sentiment, Hyundai Glovis Head of Logistics Business Division Taewoo Kim emphasised the importance of reliable shipping solutions, stating: “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.”
By combining Woodside’s proven track record in LNG development, Hyundai Engineering’s extensive engineering, procurement, and construction experience, and Hyundai Glovis’s global shipping capabilities, the parties are well-positioned to respond to the growing LNG demand across Asia-Pacific markets and selected new regions.
The MOU reflects the companies’ shared commitment to innovation, reliability, and sustainable growth in the rapidly evolving energy sector.
