PETRONAS to expand LNG exports to Asian markets
KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) is seeking to expand its liquefied natural gas (LNG) exports to growing Asian markets while also supporting Malaysia's rising energy needs, which are partly driven by a data-centre boom.
The state-owned company's diversified portfolio – which includes a newly operational export plant in Canada – will enable it to meet overseas demand for gas, said PETRONAS' gas and maritime business chief executive officer (CEO) Datuk Adif Zulkifli.
The firm plans to expand beyond its traditional markets – Japan, China and South Korea – to countries in South-East Asia, including Vietnam and the Philippines, he said in an interview.
But the gas-producing country is also eyeing more imports because its reserves are dwindling at a time when its energy requirements are growing thanks to a proliferation in power-hungry data centres serving the artificial intelligence industry.
Malaysia imported about 3.3 million tonnes of LNG in 2024, up from 2.1 million tonnes in 2021, according to Bloomberg's vessel-tracking data.
PETRONAS will continue exploration for more resources to sustain its domestic production, which has already peaked, Adif added. It operates one of the world's largest LNG terminals in Bintulu on the Sarawak coast, and has enough gas to fill up its plant there 'for as long as we need,' he noted.
'We have brought in a number of upstream projects to make sure that we are able to deliver gas and sustain that for the next 20 to 30 years,' Adif said yesterday. — Bloomberg
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