KUALA LUMPUR: Petroliam Nasional Bhd’s subsidiary, Petronas LNG Ltd, has signed a 15-year sale and purchase agreement with Woodside Energy Trading Singapore Pte Ltd to supply one million tonnes per annum (Mtpa) liquefied natural gas (LNG) to Malaysia starting in 2028.
Petronas said in a statement today that LNG will be supplied from Woodside’s global portfolio, which may include volumes from the recently approved Louisiana LNG project in the United States.
The agreement is expected to strengthen energy security in Peninsular Malaysia by integrating upstream gas developments with LNG imports.
Petronas LNG Marketing & Trading vice-president Shamsairi Ibrahim said its collaboration with Woodside ensures a reliable and flexible supply for Malaysia’s growing economy, while enhancing its global portfolio to deliver energy responsibly and sustainably.
Meanwhile, Woodside executive vice-president and chief commercial officer Mark Abbotsford said this long-term LNG supply agreement with Petronas represents a strategic milestone as it is the company’s first long-term LNG supply arrangement with Malaysia.
"The agreement is another demonstration of the strength and flexibility of Woodside’s diversified global portfolio and reinforces our position as a trusted energy supplier in Asia, supporting long-term value creation and regional prosperity,” he said.
Woodside and Petronas share a long-standing relationship, having previously collaborated on exploration studies, research and development initiatives, and both spot and mid-term LNG transactions. - Bernama
