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PETRONAS concludes 12-year LNG deal with Shenergy

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Tanks and Terminals,

PETRONAS has signed a Heads of Agreement (HOA) with Shenergy to supply approximately 1.5 million tpy of LNG to its Wuhaogou receiving terminal in China.

The LNG supply agreement is for a 12-year term starting from 2022. It also involves a shipping collaboration to construct and charter new mid-sized LNG vessels for the cargo delivery.

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 CEO of Gas and 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. This could only be achieved through PETRONAS’ unique business model where the company customise its solutions according to the 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”, he added.

The signing of the HOA between PETRONAS and Shenergy was witnessed by PETRONAS President and Group CEO, Tan Sri Wan Zulkiflee Wan Ariffin.

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