Australia’s Woodside Energy Group Ltd (ASX:WDS) has signed a conditional offtake term sheet with Singapore-based asset manager Keppel Ltd (SGX:BN4) for supplying liquid hydrogen to power Keppel’s data centres in Singapore, the companies said on Monday .
The term sheet deepens the parties’ collaboration after the signing of a non-binding heads of agreement in April 2023 and could lead to binding offtake agreement for liquid hydrogen supply starting as early as 2030. The hydrogen would come from sources including Woodside’s proposed production facilities, such as H2Perth. According to previous announcements, H2Perth is intended to produce hydrogen via electrolysis and natural gas reforming with carbon emissions abatement.
Keppel plans to integrate this hydrogen into a larger, long-term utility-scale lower carbon power portfolio that it is building to power its assets.
Woodside CEO Meg O’Neill said the term sheet underpins progress on hydrogen opportunities and builds on Woodside’s track record of being a supplier of energy to Asia for 35 years.
“As the energy transition unfolds, Keppel will continue to innovate and seek out likeminded partners to enhance and future proof our data centres as we position ourselves to better serve our customers on their journeys to net zero,” said Wong Wai Meng, CEO, Data Centres at Keppel.
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