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Petronas calls for progressive partnerships to foster sustainable LNG market

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LNG Industry,

Petronas calls for concerted partnerships by industry players in aligning to advocate LNG as the preferred clean source of energy in the long-term.

Petronas President and Group CEO Tan Sri Wan Zulkiflee Wan Ariffin has said that it is now more critical for industry players to come together in managing the challenges posed by changing market dynamics, customer behaviours, increasing regulatory and policy commitments, as well as technology and innovation, which could disrupt the growth of the LNG market.

“As an abundant and environment-friendly fuel, LNG is well-positioned to play an important role to meet the global aspiration for secure, affordable and sustainable energy. While the growth story for LNG has a tremendous upside, the industry must be cautious. The success of our industry depends on the concerted and concrete actions by all the stakeholders,” he said.

Speaking at the recent LNG Producer – Consumer Conference 2019 in Tokyo, Japan, Tan Sri Wan Zulkiflee emphasised the importance of advocating LNG and creating new demand. “As each demand centre, particularly emerging markets, has its own unique criteria, industry players should collaborate with all stakeholders in developing fit-for-purpose solutions, reflecting shared responsibility in making LNG more available and accessible,” he said.

He also highlighted that partnerships across the value chain have opened up new collaboration opportunities, as well as increased interaction amongst all stakeholders. Given the long-term nature of the LNG industry, increased interactions amongst stakeholders will facilitate the harmonisation of standards and guidelines such as port protocols and the safety regulations for LNG bunkering.

Tan Sri Wan Zulkiflee said that Petronas, being a long term player, is fully invested to unlock the potential of LNG in ensuring a cleaner environment for future generations, in line with the company’s Statement of Purpose to be ‘a progressive energy and solutions partner enriching lives for a sustainable future.’

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