Australia's Woodside Petroleum Ltd (ASX:WPL) says the liquefied natural gas (LNG) market will remain robust for at least the next 15 years, underpinned by global population growth and improving standards of living, especially in the Asia Pacific region.

The worldwide LNG market is expected to grow from about 210 million tonnes produced in 2010 to demand of between 390 and 460 million tonnes per annum by 2025, chairman Michael Chaney told the oil and gas producer's annual general meeting in Perth on Wednesday.

"While the markets of Japan and South Korea will continue to be the core of the region's LNG market, growth will come from China, Taiwan and India and new entrants such as Singapore, Thailand and Viet Nam," Mr Chaney said.

"Malaysia and Indonesia, better known as suppliers of LNG, will also become customers in the next few years."

The market was tightening, with limited new capacity under construction set to reach customers before 2014.

Mr Chaney also said the health of the LNG market had created strong demand from potential customers for product from Woodside's Browse project in Western Australia's Kimberley region, on which a final investment decision is scheduled for next year.

Chief executive Don Voelte said land for the project at James Price Point was being secured by the state government.

Premier Colin Barnett last year said the land would be compulsorily acquired due to a legal stoush between rival indigenous land groups.

Mr Voelte also expressed disappointment that the Timor Leste government appeared "less inclined" to conform with development treaties for Woodside's stalled Sunrise project in the Timor Sea.

"Floating LNG would deliver Timor Leste about $13 billion for its approximate 18 per cent share of the fields," he said.

During the speech to shareholders, both executives gave nothing away about Mr Voelte's successor after he leaves the company in the second half of calendar 2011 following seven years at the helm.

"Deciding the right time to leave was a difficult process, but ultimately it was a decision I believe I got right," Mr Voelte said.

Mr Chaney said the selection proces for Mr Voelte's successor was on track and the company expected to make an announcement during the June quarter.

Woodside had delivered a six-fold increase in LNG production since 2004 when the straight-talking Nebraskan joined the company., Mr Voelte told the meeting.

He described Woodside as "a proudly independent company... and may it ever remain so", amid speculation global miner BHP Billiton Ltd could be set to buy Shell's 24 per cent stake in the company that the Dutch energy giant plans to offload after divesting a 10 per cent interest last year.

BHP Billiton has dismissed the speculation, which also has centred on the possibility of a $46 billion takeover bid.

Mr Barnett last week told an oil and gas conference in Perth, "Hands off Woodside".