Australian energy company Woodside has signed a Heads of Agreement (HOA) with Pertamina for the supply of approximately 0.5 to 1.0 million tonnes of LNG per annum from Woodside’s LNG portfolio.
Woodside will provide LNG to the Indonesian state-owned oil and natural gas company for a period of 15 to 20 years, starting in 2019.
According to the Australian company, this HOA remains conditional upon the negotiation and execution of a fully termed LNG sales and purchase agreement and obtaining all necessary approvals, including the relevant Woodside and Pertamina board approvals.
Speaking at a conference in Australia, Woodside CEO, Peter Coleman, this week called for a disciplined and staged approach to growth, in this time of the industry down cycle.
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).