14 hours ago
- Business
- New Straits Times
Petronas signs 20-year LNG supply deal with Venture Global
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd, has signed a 20-year sale and purchase agreement with US-based Venture Global Inc for the supply of 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG).
According to Petronas, the LNG will be sourced from CP2 LNG Phase 1, Venture Global's 14.4 MTPA facility currently under development in Cameron Parish, Louisiana.
It said this long-term LNG agreement further reinforces Petronas' global LNG portfolio and underscores its commitment to delivering a reliable energy supply to meet growing global demand.
"The collaboration with Venture Global is expected to provide Petronas with greater supply agility and flexibility, strengthening our ability to serve evolving market needs across key regions," Petronas said in a statement.
Meanwhile, Petronas LNG Marketing and Trading vice-president Shamsairi M Ibrahim said that as energy demand rises and the global LNG landscape evolves, its priority is to provide customers with a reliable supply and long-term value.
"This agreement reflects our ongoing efforts to enhance supply accessibility through strategic industry collaboration, enabling us to respond to dynamic market conditions with greater agility," he said.
