Woodside Seals 15-Year LNG Deal With Petronas

Woodside Energy Trading Singapore and Petronas LNG have signed a 15-year LNG sale and purchase agreement for 1 million tonnes per year to Malaysia. The binding deal converts a heads of agreement signed in June 2025 and will draw on Woodside’s global portfolio. Volumes may include supply from Woodside’s Louisiana LNG project once it comes online.

Deliveries can begin as early as 2028 from portfolio sources. First LNG from Louisiana is targeted for 2029. The three-train development is sanctioned at 16.5 mtpa and fully permitted to expand to 27.6 mtpa with two additional trains. Woodside has secured a long-term feedgas agreement for up to 640 bcf. Train 1 was 22% complete at mid-year, with first structural steel expected by year-end. The U.S. Federal Energy Regulatory Commission has approved an in-service extension to end-2029 for the plant and the Driftwood pipeline.

This is Woodside’s first long-term LNG supply arrangement with Malaysia. The agreement supports Petronas’ plan to bolster energy security in Peninsular Malaysia. It also helps integrate domestic gas developments with LNG imports to meet rising demand from power and industry. Drivers include data-center growth, wider AI adoption, and the shift away from coal.

Mark Abbotsford, Woodside’s executive vice president and chief commercial officer, said the deal opens a new long-term customer relationship in Malaysia. For Petronas, the contract adds a diversified source of LNG while major regional projects ramp and electricity demand accelerates.

If Louisiana LNG’s full expansion proceeds, Woodside will have additional headroom later in the decade. Until then, portfolio flexibility allows early deliveries while construction advances in the U.S.

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