PETRONAS has signed a 20-year LNG supply agreement with JERA for up to about 2m tonnes per annum from 2028, according to PETRONAS’ 10 June media release.
The Malaysian group will supply the volumes through its wholly owned subsidiary PETRONAS LNG Ltd, extending a supply relationship with JERA into the 2040s. The agreement continues a partnership that began in 1983, when Malaysia shipped its first LNG cargo to Japan.
PETRONAS said the latest deal moves the relationship from traditional point-to-point LNG contracts to a more flexible LNG supply arrangement.
The agreement was commemorated in Tokyo by PETRONAS executive vice president and chief executive officer of gas and maritime business Datuk Adif Zulkifli and JERA senior managing executive officer, chief low carbon fuels officer and head of LNG division Ryosuke Tsugaru.
PETRONAS LNG Ltd chief executive Ezran Mahadzir and JERA executive officer and head of LNG origination group 2 Seijiro Tamada were also present.
PETRONAS said the LNG will be delivered on its new generation of 174,000-cbm LNG carriers, designed to comply with the International Maritime Organization’s enhanced emissions standards.
The company said the agreement supports Japan’s requirements under its 7th Strategic Energy Plan, including stable energy supply, economic efficiency and environmental priorities.
Petroliam Nasional Bhd is Malaysia’s national oil and gas company. PETRONAS LNG Ltd is a wholly owned subsidiary of PETRONAS involved in LNG supply.
JERA Co Inc is a Japanese energy company created through the integration of fuel procurement and thermal power generation businesses from Tokyo Electric Power Company group and Chubu Electric Power group.