KUALA LUMPUR, Feb. 4 (Xinhua) -- Petronas LNG Ltd (PLL), a subsidiary of Malaysia's state-owned oil and gas firm Petroliam Nasional Bhd (Petronas), has signed a 20-year liquefied natural gas (LNG) sale and purchase agreement with QatarEnergy, marking the first long-term LNG supply agreement between the two companies.
Petronas said in a statement on Wednesday that under the agreement, PLL will offtake up to 2 million tonnes per annum (MTPA) of LNG from QatarEnergy over a period of 20 years.
The long-term volumes secured through this agreement will play a critical role in reinforcing Malaysia's energy supply security, ensuring stable and reliable LNG availability to meet growing demand in Malaysia, said the statement.
According to the statement, this strategic collaboration enhances Petronas' portfolio resilience amid an evolving global energy landscape, while supporting the nation's economic development and energy transition priorities. ■