Petronas LNG Ltd. (PLL), a subsidiary of Malaysia’s energy giant Petroliam Nasional Berhad (Petronas), has sealed a new liquefied natural gas (LNG) deal with Japan’s Shizuoka Gas, building on a partnership spanning three decades, as the duo reaffirms their shared commitment to strengthening long-term energy security.
Petronas LNG has signed a new LNG sale and purchase agreement (SPA) with Shizuoka Gas to supply approximately 0.84 million metric tonnes (mt) of LNG for seven years, commencing in 2032. Leveraging the Malaysian giant’s diversified global LNG portfolio, the agreement provides greater supply flexibility and reliability to support the Japanese firm’s evolving energy requirements amid changing market dynamics.
The signing was commemorated at a ceremony held in Kuala Lumpur by Datuk Adif Zulkifli , Petronas’ Executive Vice President and Chief Executive Officer of Gas and Maritime Business, and Yoshitake Matsumoto , Shizuoka Gas’ Representative Director and President.
The ceremony also marked the 30th anniversary of the first LNG cargo delivered by Petronas to Shizuoka Gas, celebrating a partnership that has continued to evolve alongside the growth of Japan’s LNG market and the changing needs of its energy consumers.
The two players aim to further strengthen their partnership beyond the traditional relationship between LNG seller and buyer by exploring collaboration opportunities for decarbonization across the LNG value chain.
Zulkifli underlined: “This agreement marks more than a commercial milestone, it reflects 30 years of mutual trust, shared growth and a partnership that has continued to evolve alongside the changing energy landscape. We value the strong relationship we have built with Shizuoka Gas and look forward to deepening our collaboration in the years ahead.
“As our customers’ needs become increasingly dynamic, PETRONAS remains committed to delivering reliable and flexible LNG solutions through our global portfolio, supporting long-term energy security while advancing a pragmatic and responsible energy transition.”
The latest arrangement is said to reflect the growing demand for flexible LNG supply solutions as customers seek greater resilience and energy security in a dynamic global energy landscape.
Petronas is actively working on augmenting its oil and gas portfolio, as demonstrated by two recent discoveries and appraisal activity in Block 52 offshore Suriname.