GODELL GAS PARTNERS UAE FIRM TO EXPAND LNG SUPPLY RESOURCES WORLDWIDE

KUALA LUMPUR, Oct 27  -- Godell Gas International Sdn Bhd (GGI) is expanding its liquefied natural gas (LNG) supply resources worldwide by collaborating and partnering with Budget Petroleum Trading LLC (BPT), an internationally established and highly connected petroleum products trading company based in the United Arab Emirates (UAE).

GGI previously signed three agreements with Petronas via Petronas Dagangan Bhd (PDB) and Petronas LNG Ltd (PLL) for LNG supply as well. 

In a statement, GGI said the signing of the memorandum of understanding (MoU) with BPT would provide the company with global LNG supply resources while at the same time enhanced the company’s business roadmap.

It said BPT, with its full-fledged experiences and proven track record, would help GGI to source LNG worldwide and bring it into Malaysia to meet the large LNG supply requirements.

“We are also building our international markets, looking at the ASEAN region as the first in our business roadmap for international presence. 

"We will be expanding and building our presence in China and Japan in no time. The LNG markets in these parts of the globe have matured and the cake is big enough for a new player like us to participate," GGI president and group managing director Datuk Raja Azhar Raja Ismail said.

He said certain sectors of the LNG market in the region, especially in Malaysia, demanded supply of LNG beyond Virtual Pipeline System (VPS), which is a method of transporting natural gas where there no pipeline networks available but based on a modular system of compression or liquefaction, transport and decompression.

Raja Azhar said the large LNG off-takers demanded more competitive delivery systems and pricing which led GGI to explore and expand its business model and LNG sources.

“The business scenario is real as the LNG supply deal that GGI has been working is at the advanced stage of negotiations with several large domestic off-takers including major power producers and energy users requiring a combined annual LNG usage volume of not less than 95,400 million standard cubic feet (mmscf) or 99.2 million one million British Thermal Units (MMBtu).

“This requires GGI to go beyond VPS and sourcing for additional LNG resources,” he said.

GGI is principally involved in end-to-end fully integrated LNG supply and distribution and solutions business in Malaysia.

The company is part of the long established Godell Group of Companies, a homegrown diversified group of companies involved in various other industries including transportation management services, information communications and technology, utilities engineering, power and construction, as well as petrochemicals.

-- BERNAMA