KUALA LUMPUR: Petronas LNG Ltd has entered into a significant 15-year liquefied natural gas supply agreement with Woodside Energy Trading Singapore Pte Ltd.
The agreement commits to supplying one million tonnes per annum of LNG to Malaysia starting from 2028.
This LNG will originate from Woodside’s diverse global portfolio, potentially including volumes from their recently approved Louisiana LNG project in the United States.
The partnership aims to strengthen energy security throughout Peninsular Malaysia through integrated upstream gas development and LNG imports.
Petronas LNG Marketing and Trading vice-president Shamsairi Ibrahim emphasised that this collaboration ensures reliable and flexible supply for Malaysia’s expanding economy.
He noted that this arrangement enhances Petronas’s global portfolio while supporting responsible and sustainable energy delivery.
Woodside executive vice-president and chief commercial officer Mark Abbotsford described this agreement as a strategic milestone for both companies.
He highlighted that this represents Woodside’s first long-term LNG supply arrangement with Malaysia, showcasing their portfolio strength and flexibility.
Abbotsford reinforced Woodside’s position as a trusted energy supplier in Asia, supporting long-term value creation and regional prosperity through this partnership.
This agreement builds upon the existing long-standing relationship between Woodside and Petronas, which includes previous exploration studies and research collaborations.
Both companies have previously engaged in various LNG transactions, including spot and mid-term arrangements, establishing a foundation of mutual cooperation. – Bernama
