Malaysia’s Petronas and Japan’s Sumitomo are teaming up to jointly work on LNG bunkering projects in both countries.
Petronas Trading (Petco) has signed a memorandum of collaboration with trading house Sumitomo to jointly market but also supply LNG in Japan’s Tokyo bay and Malaysia.
The deal would help both of the firms to build a comprehensive LNG bunkering network as the globe’s LNG-powered fleet rises and owners increasingly opt for such ships to cut emissions and due to more stringent IMO rules.
Sumitomo has ordered an LNG bunkering vessel through a joint venture, Ecobunker Shipping, as it plans to boost the use of LNG as fuel in Japan and help develop a bunkering hub in Tokyo Bay. The vessel should start operations this year.
On the other side, Petronas already completed its maiden LNG bunkering operation at Pasir Gudang in November last year with the Avenir Advantage.
In addition, this is the second deal involving LNG bunkering for the Malaysian firm this week after it signed a pact with Japan’s Jera.