Malaysia’s state energy firm Petronas has signed a liquefied natural gas (LNG) supply agreement with a trading arm of China National Offshore Oil Company (CNOOC), reinforcing its position in the Asian LNG market.
Petronas, through its unit Petronas LNG, agreed to supply 1 million tonnes per annum of LNG to CNOOC Gas and Power Singapore Trading & Marketing under a sale and purchase agreement.
The deal builds on an existing relationship between Petronas and CNOOC and supports China’s clean energy agenda, including its targets to peak carbon emissions before 2030 and achieve carbon neutrality by 2060.
“This agreement marks an elevation of our relationship with CNOOC, advancing our shared commitment to energy security and a lower carbon future.
“Beyond supplying LNG, it reflects the continued development of our long-term partnership. PETRONAS remains committed to delivering reliable and cleaner LNG solutions, working with partners to advance shared energy transition goals,” said Shamsairi M Ibrahim, vice president of Petronas LNG Marketing and Trading.