Petronas, through its subsidiary, Petronas LNG Ltd, has successfully delivered its first cargo of LNG to South Korean oil refining company, S-OIL Corp.
The delivery marks the beginning of Petronas LNG Ltd’s supply to S-OIL via a 15-year Sale and Purchase Agreement (SPA). Under the agreement, Petronas LNG Ltd is committed to deliver up to 0.7 million tpy of LNG to S-OIL.
The cargo was delivered from Petronas’ LNG Complex in Bintulu, Sarawak, Malaysia, to POSCO Gwangyang Terminal in South Korea via the Puteri Zamrud Satu LNG carrier, which is chartered by Malaysia LNG (MLNG) and operated by Petronas’ subsidiary MISC Berhad (MISC).
Petronas’ Vice President of LNG Marketing and Trading, Ahmad Adly Alias, attributed the success of the LNG delivery to the efficient and effective collaboration between Petronas, S-OIL, POSCO and MISC, in ensuring all operational challenges were addressed effectively.