Malaysia LNG Sdn Bhd (MLNG), a subsidiary of Petronas, has signed a Heads of Agreement (HOA) with Jera Co. Inc. to supply up to approximately 2.5 million tpy of LNG for a period of three years.
LNG supply is set to commence in April 2018.
Petronas Vice President of LNG Marketing & Trading, Ahmad Adly Alias, said: “The HOA is a testament to the strength and stability of Petronas’ relationships with our partners and customers in Japan that have been built for over 30 years.
“At Petronas, we value these relationships and remain steadfastly committed to deliver reliable supply of LNG to these partners and customers.”
Jera - a joint venture (JV) between Tokyo Electric Power Co. Fuel & Power Inc. and Chubu Electric Power Co. Inc. - is engaged in the power generation and energy supply business in Japan and overseas.
Ahmad Adly said that Petronas’ integrated operation has enabled the company to respond to new market requirements in a changing LNG landscape. This includes offering both long-term and short-term solutions. He said: "New demand terms and conditions are becoming a norm and providing flexible solutions to accommodate the different needs of our buyers is our way forward.”
MLNG operates the Petronas LNG Complex in Bintulu, Sarawak, which has a combined production capacity of approximately 30 million tpy.
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