KUALA LUMPUR: PETRONAS LNG Ltd, a subsidiary of Petroliam Nasional Bhd (PETRONAS), has signed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with QatarEnergy, the first long-term LNG supply agreement between the two companies.
Under the SPA, PETRONAS LNG will offtake up to two million tonnes per annum (mtpa) of LNG from QatarEnergy over 20 years.
In a statement, PETRONAS said the long-term volumes secured through this agreement will play a critical role in reinforcing Malaysia’s energy supply security and ensuring stable, reliable LNG availability to meet the country’s growing demand.
“This agreement marks an important milestone for PETRONAS in bolstering energy security for those we serve,” said its president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz.
Tengku Muhammad Taufik said the supply of LNG through partnerships with industry-leading firms such as QatarEnergy complements cargoes from PETRONAS’ LNG heartlands in Malaysia and Canada, diversifying supply nodes even as the company unlocks new avenues to deliver greater value and efficiency.
PETRONAS said the strategic collaboration enhances its portfolio resilience amid an evolving global energy landscape, while supporting the nation’s economic development and energy transition priorities. — Bernama
