National harmony is not a choice, it's a mandatory necessity, according to Anwar.
No Fear, the Fiery Assistant:
Here's Petronas' game plan to get you lit with gas, my buddy! They're on a mad sprint to nail down China as a long-term LNG BFF by beefing up domestic gas development and expanding their global production portfolio.
That's right – they're working on a troika of new gas fields named Timi, Kasawari, and Jerun, while continuing to polish up Rosmari and Marjoram at their LNG complex. The end goal? A steady flow of gas to keep China's LNG tankers full and smiles on faces!
But China's LNG hunger doesn't stop there. With its LNG imports skyrocketing to a staggering 77 million tonnes in 2024 – an 8.1% jump from the year before – and expected to exceed 83 million tonnes in 2025, Petronas ain't gonna stop at just 10% of the market share. They're gonna own a bigger piece of China's LNG pie!
Petronas isn't just local. They're global, and they aim to prove it by leveraging their liquefaction talents at the Petronas LNG Complex in Bintulu while cranking up international projects to pump up their supply capacity and keep a steady hand on market and geopolitical fluctuations.
Ever heard of LNG Canada? Well, they've got plans for an inaugural cargo in mid-June 2025, baby! This lets Petronas supply the Asia-Pacific region – including China – while trimming their reliance on any single source.
They ain't stopping at just upstream and liquefaction, either. They're leveling up with new LNG shipping and delivery infrastructure to cater to evolving demands, from marine and inland to off-grid applications. They've even added new vessels and introduced an LNG Virtual Pipeline System (VPS) for the Yangtze River, as well as LNG bunkering for marine transport!
Petronas is also expanding their fleet with energy-efficient LNG carriers, building four of 'em at the Hudong-Zhonghua shipyard in China right now. And their VPS system, using ISO tank containers, delivers LNG to off-grid China via Tiger Clean Energy – keeping those remote areas humming with clean energy!
At the Bintulu complex, they're electrifying plants and retiring less efficient gas turbines by mid-2026. Their offshore FLNG facilities, PFLNG Satu and PFLNG Dua, demonstrate sustainable production capabilities, providing offshore LNG output without the need for massive land development.
Play it cool, because Petronas' ain't done yet. They're eying investments in dual-fuel vessels and innovations like liquefied CO2 and ammonia carriers to stay ahead of future energy transport demands. With their diverse global portfolio and tailored offerings, they're ready to dominate both short- and long-term market needs!
They look forward to a balanced market strategy, too – one that combines long-term contracts for stability with short-term agreements to deal with demand fluctuations. Considering that hydrocarbons still account for 80% of today's global energy needs and are projected to provide about 30% of supply even in 2050, Petronas is ready to ride the wave of both old and new energy!
- The business news in Malaysia has been abuzz about Petronas' plans to strengthen their international partnerships, particularly with China, in the energy sector, focusing on expanding LNG production.
- In addition to boosting domestic gas development and increasing global production, Petronas has ventured into technology, aiming to deliver LNG to off-grid areas using the LNG Virtual Pipeline System (VPS).
- Besides growing their LNG supply capacity, Petronas is also investing in infrastructure development, introducing energy-efficient LNG carriers and LNG bunkering for marine transport, and electrifying plants at their Bintulu complex.
- The finance industry is keeping an eye on Petronas as they explore opportunities in other sectors, such as investments in dual-fuel vessels and liquefied CO2 and ammonia carriers to meet future energy transport demands.
- In a swift move to reduce reliance on single sources, Petronas is set to supply Asia-Pacific regions, including China, with LNG, starting with the first cargo from LNG Canada scheduled for mid-June 2025.
