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According to a QatarEnergy statement, the 20-year deal is for two million tons per annum (mtpa) of LNG from Qatar to Malaysia starting in 2028.
The agreement was signed by Qatar’s Energy Minister and CEO of QatarEnergy, Saad Sherida Al-Kaabi, and Tan Sri Tengku Muhammad Taufik, the president and group CEO of Petronas during a ceremony held in Doha on the sidelines of the LNG2026 conference.
QatarEnergy also signed a 27-year LNG sale and purchase deal with Japan’s Jera yesterday.
First long-term LNG SPA
QatarEnergy said this is the first long-term LNG SPA between the company and Petronas.
“QatarEnergy is pleased to enter into this new LNG SPA with Petronas, which highlights our continued commitment to support the growing energy needs of Malaysia as well as our customers across the globe,” Al-Kaabi said.
Petronas said in a separate statement that the long-term volumes secured through this agreement will “play a critical role in reinforcing Malaysia’s energy supply security, ensuring stable and reliable LNG availability to meet growing demand in Malaysia.”
Petronas’ CEO said this agreement marks an “important milestone for Petronas in bolstering energy security for those we serve.”
“The supply of LNG through partnerships with industry-leading partners such as QatarEnergy complements the cargoes from our LNG heartlands in Malaysia and Canada, diversifying our supply nodes even as Petronas unlocks new avenues to derive greater value and efficiency,” he said.
Qatari expansion
QatarEnergy is working on the giant North Field LNG expansion program, which includes the North Field South, North Field East, and North Field West projects.
Together, these will raise Qatar’s LNG production capacity in Ras Laffan from the current 77 mtpa to 142 mtpa in 2030.
In February 2024, QatarEnergy announced the North Field West project, which will add 16 mtpa of LNG to the overall expansion of the North Field.
Moreover, the first two projects include six mega trains, each with a production capacity of 8 mtpa of LNG.
Four of these are part of the North Field East expansion project, and two are part of the North Field South expansion project.