Keppel Signs 10 Year Deal to Purchase 1 Mtpa of LNG from Petronas

Source: 11/4/2014, Location: Asia

Keppel Infrastructure Holdings Pte Ltd, through its indirect wholly-owned subsidiary, Keppel Gas Pte Ltd has entered into a Heads of Agreement (HOA) with Petronas LNG Ltd to purchase up to 1 million tonnes of Liquefied Natural Gas (LNG) per year, over 10 years.

The HOA is conditional upon, amongst others, Keppel Gas obtaining the approval and import license from Singapore's Energy Market Authority.

Formalising the HOA in Kuala Lumpur today were Mr Nicholas Lai Garchun, Executive Director of Keppel Infrastructure's Gas-to-Power Division and Mr Azmi Ahmad, CEO of Petronas LNG. Other senior management from Petronas and Keppel witnessing the signing included Dato' Wee Yiaw Hin, Executive VP and CEO of Upstream, Datuk Anuar Taib, Senior VP, Upstream Malaysia, Mr Ahmad Nazri Wahab, Senior GM, Marketing, as well as, Mr Loh Chin Hua, CEO of Keppel Corporation, Mr Tan Ek Kia, Director of Keppel Corporation and Dr Ong Tiong Guan, CEO of Keppel Infrastructure.

Dr Ong, said, "This is another of many steps that Keppel has committed, over the last decade and more, to support our government's efforts to improve the competitiveness of energy supplies to Singapore. The conclusion of the Heads of Agreement between Keppel and Petronas will be one of the key enablers for new possibilities and opportunities to be developed in Singapore's fast growing LNG industry."

The LNG will be sourced globally from Petronas LNG's extensive and growing portfolio of LNG supply. This LNG purchase will bolster Keppel Gas' portfolio of natural gas and allow Keppel Gas to offer competitive gas supply options to its customers in Singapore.

Dr Ong also added, "We are pleased to deepen our relationship with Petronas from our existing pipeline supply arrangements and we look forward to continue developing compelling gas supply propositions to our customers in Singapore across our pipeline and liquefied natural gas capabilities."

Currently, Keppel Gas has two existing agreements with Petronas for piped natural gas.

Keppel Infrastructure is a wholly-owned subsidiary of Keppel Corporation Limited. The above-mentioned agreement is not expected to have material impact on the net tangible assets or earnings of Keppel Corporation Limited for the current financial year.

Nigeria >>  6/22/2022 - Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that...
United States >>  6/22/2022 - Today, INEOS Energy and Sempra Infrastructure signed a heads-of-agreement for the possible supply of 1.4 million tonnes of LNG annually from North Ame...

Germany >>  6/21/2022 - Venture Global LNG and EnBW announced the execution of two long-term Sales and Purchase Agreements (SPAs) for 1.5 million tonnes per annum (MTPA) of l...
Russia >>  6/21/2022 - The Gazprom Board of Directors reviewed a number of issues pertaining to connecting Russian consumers to gas.

The m...

Iraq >>  6/20/2022 - On Monday, the Basrah Gas Company exported its first shipment of semi-refrigerated liquefied petroleum gas from the Umm Qast jetty.

The Gen...

France >>  6/17/2022 - No difficulty is expected during the summer to meet the needs of French consumers, while the filling of storage in anticipation of winter continues....

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 

Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.