Malaysia, Türkiye LNG agreements highlight global customer demand

Woodside continues to build its growing range of global customers, with the recent long-term LNG supply agreement with Malaysia’s PETRONAS highlighting sustained demand for our products from key Asian energy players.

Under the agreement, Woodside will supply one million tonnes of LNG annually to Malaysia from 2028 for 15 years from our global portfolio, which may include volumes from our Louisiana LNG project in the United States.

Executive Vice President and Chief Commercial Officer Mark Abbotsford said the agreement marked the beginning of a new era of collaboration.

"Finalising this long-term LNG supply agreement with PETRONAS represents a strategic milestone for Woodside as it is our first long-term LNG supply arrangement with Malaysia," Mark explained.

Woodside and PETRONAS have previously collaborated on exploration studies, research and development initiatives, and signed both spot and mid-term LNG transactions.

“The agreement is another demonstration of the strength and flexibility of Woodside’s diversified global portfolio and reinforces our position as a trusted energy supplier in Asia, supporting long-term value creation and regional prosperity,” Mark said.

Demand for Woodside’s LNG from major Asian energy customers remains strong as the region advances its goals for energy security and decarbonisation. This latest long-term supply agreement is the fifth signed between Woodside and Asian customers since early 2024, which will see our LNG supplied to the region into the 2040s. It also highlights the value customers recognise in Woodside’s Louisiana LNG project, as does the recent signing of a non-binding heads of agreement (HOA) with Türkiye’s state-owned enterprise, BOTAŞ.

Under the HOA, Woodside would supply BOTAŞ with approximately 5.8 billion cubic metres natural gas equivalent of LNG for up to nine years starting from 2030, primarily from the Louisiana LNG project.

EVP and Chief Operating Officer International Daniel Kalms welcomed the landmark HOA, which is the inaugural long-term LNG supply arrangement between the two companies. “It stands as a testament to BOTAŞ’s confidence in the Louisiana LNG project, the US LNG sector and Woodside’s reputation for reliability and operational excellence,” Daniel noted.

“This agreement also strengthens the Turkish-US relationship and paves the way for building a larger strategic relationship with BOTAŞ that supports energy security and economic growth for Türkiye and the United States.”

Woodside has been supplying reliable and affordable energy to international customers for more than 35 years, powering homes and industries. With positions in both the Pacific and Atlantic basins, the company is strategically positioned to meet the world’s growing energy needs.

That position is set to grow, with our major LNG growth projects – the Scarborough Energy Project and Louisiana LNG – coming online in the second half of 2026 and 2029 respectively.

Speaking at the Energy Intelligence Forum in London this month, CEO Meg O’Neill declared strong partnerships had underpinned Woodside’s success in the LNG industry.

“When we think about our strategy of thriving through the energy transition, it's about getting energy to our customers to help them and their citizens lead better lives,” Meg said, adding: “And we believe that's where the value is for our shareholders.”