Petronas inks LNG supply deal with PetroChina

Malaysia’s Petronas has signed a liquefied natural gas (LNG) supply deal with a subsidiary of China’s state-owned energy giant PetroChina.

According to a statement by PetroChina International issued on Tuesday, the firm and a unit of Petronas signed the sales and purchase deal on April 17.

This deal is is the first medium-to-long-term LNG purchase and sale agreement between PetroChina and Petronas and is based on a previous framework agreement, PetroChina International said.

PetroChina International said the deal with major LNG supplier Petronas will help the company to expand the sources of LNG supply and enhance the flexibility of supply.

The company did not provide any additional details regarding the deal.

The two firms have been cooperating for more than 10 years, including on the Shell-led LNG Canada project, which is expected to ship its first cargo by the middle of this decade.

In Malaysia, Petronas produces LNG at its giant 30 mtpa Bintulu LNG export facility in Sarawak, as well as from two floating LNG facilities, namely the 1.2 mtpa PFLNG Satu and the 1.5 mtpa PFLNG Dua, both located offshore Sabah.

Petronas is also working on the third floating LNG producer to install it near the shore in Sabah.

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