Australia’s Woodside Energy (Woodside) has signed a non-binding memorandum of understanding (MOU) with Hyundai Engineering and Hyundai Glovis, the engineering and shipping affiliate of South Korea’s Hyundai Motor Group, respectively, to collaborate across the liquefied natural gas (LNG) value chain.
In line with the MOU’s strategic framework, the duo will partner on LNG project development, engineering services, and shipping logistics. They plan to do this by focusing on execution capability and extending their reach into what Woodside says are priority LNG markets.
Woodside Executive Vice President and Chief Commercial Officer Mark Abbotsford said: “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 highquality LNG solutions to meet growing global demand.”
The Australian major believes its experience in LNG development, Hyundai Engineering’s in engineering, procurement, and construction, and Hyundai Glovis’s global shipping reach will allow the trio to respond to growing LNG demand across Asia-Pacific markets and selected new regions.
“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,” noted Hyundai Engineering Chief Operating Officer Myoung-Kun Son .
This comes on the heels of the Bonaparte CSS project, being developed by Woodside, Inpex Browse E&P, and TotalEnergies CCS Australia, winning a major project status from the Australian government last week.
The Australian firm also recently picked Great Lakes Dredge & Dock Corporation (GLDC) for the Louisiana LNG project. The dredging operations at the LNG project under development in Louisiana’s Calcasieu Parish are expected to start in early 2026.