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PETRONAS signs 12-year LNG supply agreement with Shenergy

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LNG Industry,

PETRONAS, through its subsidiary, PETRONAS LNG Ltd (PLL), has signed a heads of agreement (HOA) with Shenergy Group Co. Ltd to supply approximately 1.5 million tpy of LNG to its Wuhaogou receiving terminal in China.

According to the statement, the LNG supply agreement is for a period of 12 years, commencing in 2022, and also involves a shipping collaboration to construct and charter new mid-sized LNG vessels for the cargo delivery. Through this latest agreement, PETRONAS continues to serve as Shenergy’s preferred LNG solutions partner, having been a major LNG supplier to its subsidiary, Shanghai LNG Co. Ltd, since 2006.

PETRONAS Executive Vice President and Chief Executive Officer of Gas & New Energy, Adnan Zainal Abidin, said: “The long-term LNG deal, which involves the delivery of mid-sized cargoes to unique LNG receiving terminals, is a testimony of PETRONAS’ commitment to customer-centricity and market adaptability. This could only be achieved through PETRONAS’ unique business model where we customise our solutions according to our customers’ needs and requirements, especially when the market is moving towards mid-sized cargo requirements or smaller parcels of LNG. With a focus on providing innovative solutions to meet customer demands, PETRONAS continues to cement its reputation as a preferred and reliable LNG supplier.”

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LNG import news China LNG news