Petronas signs LNG supply deals

NLNG exports06 March 2014, News Wires – Malaysia’s state-run Petronas has signed two new liquefied natural gas supply agreements with Taiwan’s CPC.

The deals will see Petronas supply CPC with up to 2.6 million tonnes per annum of LNG over a year six-year period.

The first supply agreement is due to start in the second quarter of the year, while the second agreement will kick off in 2015.

Petronas did not reveal the commercial terms of the deals on Thursday, but said it would source the gas from its LNG complex in Bintulu, Sarawak, as well “other supply sources”.

The Malaysian company has been supplying up to 2.2 million tpa of LNG to CPC since 1995 through a 20-year contract.

CPC will use the gas sourced from the latest deals largely to meet demands in Thailand’s power sector.


– Upstream

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