Malaysia’s Petronas and UAE’s Abu Dhabi National Oil Company are joining forces to work across the energy value chain, including LNG bunkering.
Under the memorandum of understanding, the duo will collaborate in the exploration, development, and production of Abu Dhabi’s conventional and unconventional resources, Petronas said in a statement.
In addition, the scope extends into potential R&D and applied technology cooperation in enhanced hydrocarbon recovery, carbon capture, but also hydrogen technologies.
In the downstream sector, Petronas and Adnoc will explore cooperation in trading, including the supply of crude and feedstock, but they will also assess domestic and international opportunities to “maximise value creation down the chain,” the statement said.
“Another potential is in the area of fuel bunkering and in supporting LNG bunkering vessels at ports in the UAE and the region,” Petronas said.
Furthermore, the Malaysian firm also signed a similar deal with Masdar, a company of Mubadala Investment.
The duo will pursue “clean energy” projects across Asia and the Middle East, covering renewable energy and green hydrogen, Petronas said.
The Adnoc deal is the third cooperation agreement in a month for Petronas that includes LNG bunkering, following deals with Jera and Sumitomo.
To remind, Petronas completed its maiden LNG bunkering operation at Pasir Gudang in November last year with the Avenir Advantage.
