Saturday, 30 May 2020
BUSINESS
20/05/2020 12:21 PM

KUALA LUMPUR, May 20  -- Petronas through its subsidiary, Petronas LNG Ltd, has inked a sales and purchase agreement with Shanghai-based Tiger Clean Energy Ltd (TCEL) to supply liquefied natural gas (LNG) to TCEL’s LNG ISO Tank Filling Facility in Bintulu, Sarawak.

In a statement today, Petronas said under the agreement, TCEL will undertake the LNG’s delivery to China, and the LNG would subsequently be distributed to remote locations in the country using TCEL’s ISO tanks.

“This is a customer-centric and pragmatic solution undertaken by Petronas that supports and enables greater accessibility to cleaner energy, particularly for remote customers located away from physical LNG pipelines and customers with smaller parcel requirements.

“Furthermore, delivery of LNG via ISO tanks can also act as an agile back-up solution to meet excess demand as large vessel deliveries may be restricted by rigid delivery schedules,” it said.

Vice-president of LNG Marketing and Trading, Ahmad Adly Alias said the unconventional term deal with TCEL is a customer-centric solution by Petronas as it goes beyond traditional LNG arrangements, enabling greater access to cleaner energy.

“Through this modern approach in delivering LNG, we established a virtual pipeline that effectively enables LNG to reach off-grid customers who are not directly served by the natural gas distribution system in China.

“We achieved this through our unique LNG business model, whereby our solutions are customised for market adaptability and customer requirements in a rapidly evolving industry,” he added.

Petronas provides an uninterrupted supply of LNG to more than 25 countries around the world and safely delivered more than 11,000 cargoes globally, sourced from its portfolio of facilities located in Malaysia, Australia and in the future, Canada.

It is also the first global energy player to introduce the floating LNG (FLNG) concept in 2016, the PFLNG SATU, and introduced its first deep-water FLNG, the PFLNG DUA, in 2019.

-- BERNAMA

 

 

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