Woodside Petroleum Ltd. subsidiary Woodside Energy Trading Singapore Pte. Ltd. has signed a long-term LNG sale agreement with Indonesia’s PT Pertamina (Persero) for the supply of LNG beginning in 2019.
The deal is for Woodside to build up supply from 2019 to about 600,000 tonnes/year by 2022 and continue that quantity until 2034. The company also has the option to increase the supply to about 1.1 million tpy from 2024 to 2038.
Woodside intends to source the LNG from its global portfolio. The agreement means that Woodside will become a significant LNG supplier to Indonesia.
Chief Executive Officer Peter Coleman said the company’s record as a reliable supplier as well as the close proximity of its sources of LNG to Indonesia were key factors in clinching the deal.
Coleman added Woodside is keen to become a buyer of choice as more regional LNG buyers enter the market in the near future.