KUALA LUMPUR: Malaysia LNG Sdn Bhd (MLNG), a subsidiary of Petroliam Nasional Bhd (Petronas), has signed a Heads of Agreement with JERA Co. Inc. (JERA) to supply up to 2.5 million tonnes of liquefied natural gas (LNG) annually for three years.
The supply to JERA will start in April 2018.
In a statement today, Petronas vice president of LNG marketing & trading Ahmad Adly Alias said: “The heads of agreement is a testament to the strength and stability of PETRONAS’ relationships with our partners and customers in Japan that have been built for over 30 years.
“At Petronas, we value these relationships and remain steadfastly committed to deliver reliable supply of LNG to these partners and customers,” he said.
JERA is a joint venture between Tokyo Electric Power Company Fuel & Power Inc and Chubu Electric Power Co Inc and is engaged in the power generation and energy supply business in Japan and overseas.
Ahmad Adly said Petronas’ integrated operation has enabled the company to respond to new market requirements which includes offering long-term and short-term solutions.
"New demand terms and conditions are becoming a norm and providing flexible solutions to accommodate the different needs of our buyers,” he added.
MLNG operates the Petronas LNG Complex in Bintulu, Sarawak, one of the world’s largest LNG complexes operating on a single site. The 9-train facility has a combined annual production capacity of about 30 million tonnes.
Petronas, with over 30 years of experience in integrated global LNG business, is a reliable LNG solutions provider and supplier.