Woodside signs 15-year LNG supply agreement with Petronas

The news: Fossil fuels giant Woodside Energy has signed a non-binding heads of agreement with oil and gas multinational Petronas to supply one million tonnes per annum of liquefied natural gas (LNG) to Malaysia for 15 years from 2028.

The context: The LNG will be supplied from Woodside’s global portfolio, which could include the recently approved Louisiana LNG project. The two companies are working towards converting the commitment into a sales and purchase agreement.

What they said: “This agreement marks the beginning of a new era of collaboration between Woodside and Petronas and is an important step towards what would be our first long-term LNG sales to Malaysia,” Woodside executive vice president and chief commercial officer Mark Abbotsford said.

“It reflects the value global buyers see in Woodside’s Louisiana LNG project and our reputation as a safe and a reliable supplier of energy to Asia.”