KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary will supply liquified natural gas (LNG) to India after inking a deal with H-Energy Mideast DMCC (HEMD).
The national oil company said Petronas LNG Ltd had signed a sale and purchase agreement on Jan 24 which was a milestone as it was the first term LNG contract to India.
The agreement was signed between Petronas LNG chief executive officer and managing director Ezhar Yazid Jaafar and HEMD CEO Darshan Hiranandani.
Ezhar Yazid said the agreement was also in line with Petronas’ growth strategy to expand its LNG supply and help meet rising demand for clean and reliable energy in the fourth-fastest-growing economy in the world.
Petronas is the third largest LNG player globally and it is recognised as a reliable and flexible LNG supplier, operating from its main supply base in Bintulu, Sarawak.
HEMD, based in Dubai, is a unit of H-Energy Global Ltd (which is a part of Hiranandani Group). Its business is to secure supply and trade LNG, crude oil, petroleum products and petrochemicals.