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Petronas, Gas4Sea partners ink LNG MoU

Written by  Tuesday, 16 May 2017 20:43
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Petronas through its subsidiary Petronas LNG Ltd. (PLL) and its shipping affiliate MISC Berhad (MISC) inked a non-binding memorandum of understanding (MoU) with Gas4Sea partners to explore collaboration in promoting liquefied natural gas (LNG) as the preferred marine fuel.

Gas4Sea, comprising of Engie, Mitsubishi Corp. and Nippon Yusen Kabushiki Kaisha is a partnership created to jointly promote LNG as the cleaner maritime fuel, by providing LNG bunkering services in the global market.

Under the terms of the MoU, the parties will explore ways to collaborate and identify potential business opportunities in relation to LNG bunkering.

Commenting on the MoU, PLL chief marketing officer and CEO Ezhar Yazid Jaafar said that the collaboration is expected to enhance Petronas’ strong presence in the integrated LNG value chain and diversified LNG market portfolio.

“Petronas is looking at ways to further promote the consumption of LNG beyond the existing markets portfolios, and advocating LNG as marine fuel is a new frontier for the LNG sector,” he said.

“In addition, this collaboration will also support the usage of LNG as a fuel of choice for maritime activities, which is in line with Petronas effort in helping the industry reduce its carbon footprint.”

Gas4Sea partners are major players in the energy and global shipping industries. With their first purpose-built LNG bunkering vessel based in the port of Zeebrugge in Belgium, they are equipped with a key piece of the LNG bunkering value chain to extend the reach of LNG to fuel the marine transportation sector.

Petronas, on the other hand, has diversified its LNG supply portfolio in recent years with the addition of its first floating LNG facility, PFLNG Satu, located offshore Sarawak, and gained 27.5% interest in Australia's Gladstone LNG project in Queensland. 

Built to maximize the potential of remote and stranded gas reserves, PFLNG Satu achieved first gas from the Kanowit field in November 2016 and produced its first drop of LNG in December 2016. This was followed by first cargo to a South Asian market in April. 

Image: Petronas and Gas4Sea at MoU signing / Petronas

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