Malaysian energy giant Petronas and Japan Organization for Metals and Energy Security (JOGMEC) have signed a memorandum of cooperation to expand the collaboration framework in the liquefied natural gas sector, through a strategic LNG arrangement.
Petronas said in a statement on Monday that the cooperation is set to pave the way for further discussions on strengthening LNG supply to Japan, including measures to ensure supply stability and manage potential disruptions.
JOGMEC said in a separate statement that the cooperation aims to ensure a “stable supply of LNG under normal circumstances, while addressing sudden disruptions in LNG supply, through a strategic LNG arrangement outside of Japan, which could include exploring the utilisation of LNG storage facilities in Malaysia.”
The MoC was signed by Shamsairi Mohd Ibrahim, VP of LNG marketing and trading at Petronas, and Hiroyuki Mori, executive VP, energy business of JOGMEC, in Kuala Lumpur recently.
“We take pride in being Japan’s longstanding energy partner, and this MoC is a testament of our role as the key reliable LNG Supplier to Japan since 1983,” Ibrahim said in the statement.
Petronas and Japan’s Jera recently also agreed to expand their collaboration across the gas value chain, including providing LNG supply for Japan, with the signing of a memorandum of understanding.
In Malaysia, Petronas operates the giant Bintulu LNG plant witha capacity of 29.3 mtpa.
Petronas also operates two floating LNG facilities, namely the 1.2 mtpa PFLNG Satu, and the 1.5 mtpa PFLNG Dua, both located offshore Sabah, and is building a third unit.