Petronas’ subsidiary, Petronas LNG Ltd (PLL), marked a new milestone with the signing of a sale and purchase agreement (SPA) with H-Energy Mideast DMCC (HEMD), its first-term liquefied natural gas (LNG) contract to the South Asia country.
Managing Director Ezhar Yazid Jaafar, in a statement today, said the agreement was in line with Petronas’ growth strategy to expand its LNG supply and help meet rising demand for clean and reliable energy in the fourth-fastest-growing economy in the world.
He added that as the third largest LNG player globally, Petronas is recognised as a reliable and flexible LNG supplier, operating from the company’s main supply base in Bintulu, Sarawak.
With over 30 years of LNG experience, Petronas has also diversified its LNG supply portfolio in recent years with the inclusion of Australia Gladstone LNG and the world’s first floating LNG facility (PFLNG Satu).
Based in Dubai, HEMD is a wholly-owned subsidiary of H-Energy Global Limited, which is a part of Hiranandani Group, focusing on securing supply and trade LNG, crude oil, petroleum products and petrochemicals.