Woodside to Supply LNG to Pertamina for 15-20 Years
Australia's Woodside Petroleum Ltd. reported Wednesday that its unit Woodside Energy Trading Singapore Pte Ltd. has signed a Heads of Agreement (HOA) with Indonesia's national oil company PT Pertamina (Persero) to supply approximately 0.5 to 1.0 million tons of liquefied natural gas (LNG) a year from the firm's LNG portfolio for a period of 15 to 20 years.
"The 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)," Woodside said in a press release.
Indonesia's domestic energy consumption rose 43 percent between 2003 and 2013 and the government intends to raise natural gas' share of the energy mix to around 22 percent by 2025, according to the U.S. Energy Information Administration.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Offshore Australia Contract Goes to KBR (Oct 11)
- Pipe Dream? Chevron, Woodside Vie to Shape Australia's LNG Sector (Jun 15)
- Chevron Unveils Shared Vision for North West Shelf Infrastructure Stimulus (May 16)
Company: PT Pertamina more info
- Pertamina Invites Socar, JX Nippon To Partner On Balikpapan Upgrade (Aug 01)
- Indonesia Compensates Pertamina with Oil Block Handover (Apr 20)
- Indonesia State firm Says Oil Spill Due To Cracked Underwater Pipeline (Apr 04)