13/04/2016 - 12:51

Woodside in LNG supply deal

13/04/2016 - 12:51

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Energy giant Woodside Petroleum has signed an agreement for the supply of liquefied natural gas to an Indonesian corporation for an undisclosed sum.

Woodside in LNG supply deal

Energy giant Woodside Petroleum has signed an agreement for the supply of liquefied natural gas to an Indonesian corporation for an undisclosed sum.

In a brief statement today, Perth-based Woodside said it had signed a heads of agreement with PT Pertamina, an Indonesian state-owned oil and LNG corporation based in Jakarta, for the supply of LNG.

Under the deal, Woodside will supply between 500,000 and 1 million tonnes of LNG per annum from its LNG portfolio for between 15 and 20 years, starting in 2019.

“This HoA remains conditional upon negotiation and execution of a fully termed LNG sales and purchase agreement and obtaining all necessary approvals,” Woodside said in a statement.

Woodside shares were 4.1 per cent higher to $26.12 each ahead of the close of trade.

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