Petronas has signed a heads of agreement (HOA) with Shenergy Group to supply 1.5 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to its receiving terminal in Wuhaogou, China. The deal allows Petronas to increase its presence in one of the world’s fastest growing LNG markets and builds on its history of supplying LNG to Shenergy since 2006.
The deal covers a 12-year period, starting in 2022. The companies have also agreed to collaborate on building and chartering new mid-sized LNG vessels for the delivery of the cargo. “The long-term LNG deal, which involves the delivery of mid-sized cargoes to unique LNG receiving terminals, is a testimony of Petronas’ commitment to customer-centricity and market adaptability”, said Petronas’ executive vice president and chief executive officer of gas & new energy, Adnan Zainal Abidin.
