Australia's Woodside confirms Posco LNG tender invite: Report

Woodside Petroleum Ltd. has been invited to bid for a South Korean liquefied natural gas supply contract valued around A$7 billion, a Woodside spokesman was quoted by Dow Jones as saying on Friday.

The contract is to supply a consortium of South Korean steel producer Posco and power-generation group SK Corp. with 1.1 million metric tons of LNG a year starting in 2005.

"It is a tender process and we're one of 10 projects that have been invited to bid," the spokesman said.

"Were currently looking at the terms and conditions. The bids aren't due in until the end of the month," he added.

The spokesman pointed out that Woodside last month declined to bid for a Taipower LNG receiving terminal and supply contract in Taiwan, mainly due to commercial concerns about the terminal construction.

He said that Woodside is more likely to bid for the Posco contract, given that it doesn't involve the construction of a receiving terminal. (*)