Petronas, CNPC strengthen LNG ties

Malaysia’s Petronas and China National Petroleum Corporation (CNPC) signed a memorandum of understanding (MoU) to strengthen collaboration in various fields, including LNG.

The two companies signed the MoU in Shanghai on November 6.

According to a statement by Petronas, the MoU for strategic partnership will strengthen collaboration, among others, in the upstream exploration and production of oil and gas internationally, as well as the liquefied natural gas (LNG) value chain.

The MoU will also focus on ventures in fields such as specialty chemicals, renewable energy, green hydrogen technology, and carbon capture utilization and storage (CCS).

Additionally, the two parties aim to establish an open communication platform to facilitate the exchange of knowledge, insights, and best practices, Petronas said.

Over the years, Petronas has provided China with a “stable” energy supply, including LNG, petrochemical products, crude oil, petroleum products, and lubricants.

CNPC and Petronas are partners in the Shell-led LNG Canada project which is over 95 percent complete.

Last year, Petronas signed an LNG supply deal with a subsidiary of CNPC’s PetroChina.

This deal is is the first medium-to-long-term LNG purchase and sale agreement between PetroChina and Petronas.

In Malaysia, Petronas operates the giant Bintulu LNG complex with a capacity of about 29.3 mtpa.

Also, the company operates two floating LNG facilities, namely the 1.2 mtpa PFLNG Satu, and the 1.5 mtpa PFLNG Dua, both located offshore Sabah.

It is also working on the nearshore floating LNG project in Sabah, its third FLNG.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

CMA CGM’s LNG-powered giant floated out in China

China’s Hudong-Zhonghua has launched the third in a new series of 24,000-teu LNG dual-fuel containerships for French shipping giant CMA CGM.

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

Malaysia’s Petronas logs lower LNG sales in H1

Malaysian energy giant Petronas reported a decline in its liquefied natural gas (LNG) sales and net profit for the first half of this year compared to the same period last year.

MISC: LNG carrier charter rates to remain soft

Malaysia’s LNG shipping player MISC, a unit of Petronas, said on Monday that LNG carrier charter rates are expected to remain soft through 2025, primarily due to continued robust fleet expansion and subdued tonne-mile demand.

DNV approves LNG-powered LCO2 carrier

Classification society DNV has awarded a general approval for ship application certificate to Japan's MOL, Malaysia's MISC and Petronas CCS Ventures, and China's SDARI for their jointly-developed LNG-powered liquid carbon dioxide (LCO2) carrier design.

South Korea gets first LNG Canada cargo

The 174,000-cbm GasLog Glasgow, which is carrying the first liquefied natural gas cargo produced at the Shell-led LNG Canada facility in Kitimat, has arrived in Tongyeong, South Korea, according to shipping data.