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Malaysia's Petronas signs LNG supply deal with China's CNOOC

Malaysia's Petronas signs LNG supply deal with China's CNOOC

By Kim Browne

Culture

Malaysian state-owned energy firm Petroliam Nasional said on Wednesday (Dec 24) it would supply Chinese offshore oil and gas company CNOOC with 1 million metric tons per annum of liquefied natural gas (LNG).

The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a statement.

In 2021, Petronas signed a 10-year LNG supply agreement with a subsidiary of CNOOC valued at about US$7 billion.

Both CNOOC and Petronas did not immediately respond to Reuters’ requests seeking details including the deal tenure.

Petronas signed a similar deal in November with Canadian oil and gas company Pembina Pipeline to supply 1 million tons per annum of LNG for 20 years from its Cedar LNG project. REUTERS

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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