Woodside in LNG supply deal with Indonesia’s Pertamina
- Business & Finance
Woodside Singapore, a subsidiary of the Australian energy firm Woodside, has entered into a long-term LNG sale and purchase agreement with Indonesia’s Pertamina for the supply of LNG starting in 2019.
The sale and purchase agreement follows a heads of agreement between the two companies signed in April.
Woodside Singapore informed on Tuesday it has committed to supply initial ramp up quantities building to approximately 0.6 million tonnes per annum from 2022 to 2034, and has the option to increase the supply to approximately 1.1 million tonnes per annum from 2024 to 2038.
The company noted that LNG to be supplied to Pertamina under the sale and purchase agreement will be sourced from Woodside’s global portfolio and will result in Woodside becoming a significant supplier of LNG to Indonesia.
Woodside CEO Peter Coleman welcomed the finalization of the agreement and further commented: “Our track record as a reliable supplier of LNG and the proximity of our key sources of LNG to Indonesia were key to achieving this deal. As more regional buyers enter the market, we are well placed to become the supplier of choice.”
Pertamina is an Indonesian Government-owned integrated oil and gas company with upstream, midstream and downstream businesses.
Woodside is the operator of the North West Shelf which has delivered more than 4000 LNG cargoes since 1989. The North West Shelf Project facilities include the Karratha Gas Plant, and offshore production facilities include the North Rankin Complex, Goodwyn A and Angel platforms, and the Okha floating production storage and offloading vessel (FPSO).