Woodside expects to receive better average price in 2014

MELBOURNE, Feb 19 (Reuters) - Woodside Petroleum Ltd

, expects to achieve a higher average price in 2014 than last year on the back of increased sales of oil and recently renegotiated liquefied natural gas contracts, its chief executive said on Wednesday.

"Our anticipated average realised prices across all our products in 2014 are set to increase," Chief Executive Peter Coleman told reporters, after Australia's top oil and gas producer reported a 17 percent fall in underlying profit for 2013.

The higher oil sales are expected as the company's Vincent oil field came back on line in November, following 11 months off line.

(Reporting by Sonali Paul; Editing by Richard Pullin)

((Sonali.Paul@thomsonreuters.com)(+61 3 9286 1419)(Reuters Messaging: sonali.paul.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA WOODSIDE/PRICES