Petroliam Nasional Bhd said Wednesday it had signed a deal to supply China National Offshore Oil Corp (CNOOC) one million tonnes per annum of liquefied natural gas.
Malaysia’s state-owned Petronas did not specify the duration of the “long-term commitment” to CNOOC Gas and Power Singapore Trading and Marketing Pte Ltd.
The agreement strengthens “cooperation in LNG supply while supporting China’s economic growth and national clean energy agenda, including the ‘Dual Carbon’ aspirations of peaking emissions before 2030 and achieving carbon neutrality by 2060”, Petronas said in a statement on its website.
“With Asia’s rising demand for lower-carbon fuels, Petronas will continue to deliver LNG from its established portfolio to support customers’ evolving energy needs across the region”, Petronas added.
Earlier this year Petronas and its partners began exporting from LNG Canada, which targets the Asian market.
On July 7 Petronas said it had shipped its first production share from the British Columbia facility to Japan. Each joint venture participant is responsible for marketing their net volumes, according to a July 1 statement by LNG Canada Development Inc announcing the project’s first dispatch.
Announcing its maiden export from the project, Petronas said, “LNG Canada is a critical component of Petronas’ global LNG strategy to diversify its supply portfolio and increase market flexibility”.
“Strategically located on Canada’s west coast and connected to Petronas’ upstream gas assets in Northeast BC, LNG Canada offers a direct and efficient shipping corridor to key north Asian markets including Japan, South Korea and China”, Petronas added.
LNG Canada, majority-owned by Shell PLC at 40 percent and hosted by the Haisla Nation, has a declared capacity of 14 million tons a year.
Petronas previously held 25 percent of LNG Canada. On December 17 MidOcean Energy announced the completion of its acquisition of a 20 percent stake in the Petronas subsidiary involved in LNG Canada and 20 percent in Petronas’ upstream arm in Canada.
In its latest financial and operational statement published June 30, Petronas reported 17.34 million tonnes of gross LNG sales in the first half of 2025. Its LNG gross sales totaled 35.7 million tonnes last year, from the Petronas LNG complex and two floating facilities – all on Malaysia’s side of Borneo island, according to its annual report July 4, 2025.
To contact the author, email jov.onsat@rigzone.com
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