Woodside Energy and PETRONAS, through its subsidiary PETRONAS LNG Ltd (PLL), have entered into a non-binding Heads of Agreement (HOA) for the supply of 1 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) to Malaysia starting in 2028 for a period of 15 years.
The LNG will be sourced from Woodside’s global portfolio, which may include volumes from the recently approved Louisiana LNG project in the United States.
The agreement, signed at the Energy Asia 2025 conference in Kuala Lumpur in the presence of Woodside CEO Meg O’Neill and PETRONAS Executive Vice President & CEO Gas & Maritime Business Datuk Adif Zulkifli, marks a significant step in strengthening the partnership between the two energy giants.
The HOA underlines both companies’ ambition to deepen cooperation across the LNG value chain and build “a relationship of mutual trust, benefit and success.”
Woodside Executive Vice President & Chief Commercial Officer Mark Abbotsford said: “This agreement marks the beginning of a new era of collaboration between Woodside and PETRONAS and is an important step towards what would be our first long-term LNG sales to Malaysia.
“It reflects the value global buyers see in Woodside’s Louisiana LNG project and our reputation as a safe and a reliable supplier of energy to Asia.”
The deal is expected to support PETRONAS’ efforts to secure flexible LNG supply to meet growing demand in Peninsular Malaysia and the broader Asia-Pacific region.
Shamsairi Ibrahim, Vice President of LNG Marketing & Trading at PETRONAS, commented: “We are pleased to launch our new collaboration with Woodside, a leading supplier of LNG to Asia.
“We hope this will be the start of cooperation between PETRONAS and Woodside on future opportunities to support energy security and sustainability across the region.”
Woodside and PETRONAS have a long-standing relationship, having previously collaborated on exploration studies, research and development initiatives, and both spot and mid-term LNG sales and purchases.
The parties are now working to convert the HOA into a formal sales and purchase agreement.
