Gulf Oil and Gas accountACCOUNT

PETRONAS Inks First LNG Deal Virtually With Tiger Clean Energy

Source: www.gulfoilandgas.com 5/20/2020, Location: Asia

PETRONAS through its subsidiary, PETRONAS LNG Ltd. (PLL), recently concluded a Sale and Purchase Agreement (SPA) with Tiger Clean Energy Limited (TCEL) for the supply of liquefied natural gas (LNG) to TCEL’s LNG ISO Tank Filling Facility located at Bintulu, Sarawak. As part of the agreement, delivery of the LNG to China will be undertaken by TCEL, which will then be distributed to remote locations using TCEL’s ISO tanks.

This term sale which facilitates the delivery of LNG via LNG ISO tanks 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 with pace as compared to large vessel deliveries which may be restricted by rigid delivery schedules.

Due to the ongoing COVID-19 outbreak followed by movement restriction controls implemented globally, the signing of the SPA was conducted through a video tele-conference, which is the first LNG deal of its kind concluded and commemorated on the virtual sphere for PETRONAS. The e-commemoration ceremony was witnessed by PETRONAS Vice President of LNG Marketing and Trading, Ahmad Adly Alias.

Commenting on the deal, Adly said: “The unconventional term deal with TCEL is a customer centric solution by PETRONAS as it goes beyond traditional LNG arrangements and includes a modern approach to delivering LNG that enables 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.

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is Malaysia’s fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500®. As an integrated global LNG producer with over 35 years of experience, PETRONAS provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS has safely delivered more than 11,000 cargoes globally, sourced from its portfolio of facilities located in Malaysia, Australia and in the future, Canada. PETRONAS is also the first global energy player to introduce the floating LNG concept in 2016, the PFLNG SATU, and introduced its first deepwater FLNG, the PFLNG DUA, in 2019.

Natural Gas News in China >>

United Kingdom >>  7/9/2020 - Angus Energy is updating the market on progress made on the Company's interests at Saltfleetby.

Angus Energy Weald Basin No.3 Ltd, the Co...

United States >>  7/6/2020 - New Fortress Energy LLC had entered into an agreement with Centrica LNG Company Limited (“Centrica”) to terminate New Fortress’s obligation to purchas...

Egypt >>  7/5/2020 - Minister of Petroleum and Mineral Resources Tarek al Molla said 1.07 housing units were connected to natural gas within 2019-2020 as part of a nationa...
Cameroon >>  7/3/2020 - Victoria Oil & Gas Plc, whose wholly owned subsidiary, Gaz du Cameroun S.A . ("GDC"), the onshore gas producer and distributor with operations locate...

Romania >>  7/1/2020 - ERU, one of Ukraine’s top natural gas traders has started its first exports to Romania from 1 July, the company said in a statement on Wednesday, 1 Ju...
Argentina >>  6/29/2020 - Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide an commercial update regarding the Company's gas sales fr...




China Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.