PETRONAS Signs 12-Year LNG Deal With Shenergy
KUALA LUMPUR – PETRONAS has signed a Heads of Agreement (HOA) with Shenergy Group Company Limited (Shenergy) to supply approximately 1.5 MTPA of liquefied natural gas (LNG) to its Wuhaogou receiving terminal in China.
The LNG supply agreement is for a 12-year term starting from 2022 and includes a shipping collaboration to construct and charter new mid-sized LNG vessels for the cargo delivery. Through this new long-term agreement, PETRONAS continues to establish itself as Shenergy’s preferred LNG solutions partner, having been a major LNG supplier to its subsidiary, Shanghai LNG Co., Ltd since 2006.
The new deal for additional LNG supply allows PETRONAS to support Shenergy’s increasing demand for LNG, while further strengthening PETRONAS’ foothold in one of the world’s fastest-growing LNG markets.
PETRONAS Executive Vice President and Chief Executive Officer of Gas & New Energy, Adnan Zainal Abidin said PETRONAS values the long-term relationship with Shenergy, which has continued to grow, from strength-to-strength since 2006.
“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,” he added.
The signing of the HOA between PETRONAS and Shenergy was witnessed by PETRONAS President and Group Chief Executive Officer, Tan Sri Wan Zulkiflee Wan Ariffin.
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