A new stage in Petronas’ energy expansion began this January with the official announcement of the establishment of Petronas Liquefied Natural Gas, its first liquefied natural gas-focused subsidiary within China. This wholly owned subsidiary of the Malaysian company will be strategically located in the Dishui Lake Financial Bay within the Lingang New Area in Shanghai.
Energy expansion with Petronas Liquefied Natural Gas
This move strengthens Petronas’ global strategy, which already has operations in more than 50 countries. Its new venture in China will focus on importing and distributing LNG to supply the growing demand for clean energy in the Asian country. The goal is to provide reliable energy solutions, aligned with the energy transition being driven by Beijing.
The Lingang New Area has been key to attracting investment in energy innovation and sustainability sectors. The establishment of Petronas Shanghai LNG Company will directly contribute to strengthening the international energy business ecosystem in this area. The company will also develop new business opportunities through closer ties with its customers.
During the process of setting up the subsidiary, the local authorities provided comprehensive administrative support. Going forward, Dishui Lake Financial Bay will leverage its resources to offer cross-border financial services, international capital integration and trade channel expansion. This will facilitate Petronas’ internationalization from China, reaffirming the subsidiary’s role as a strategic node.
Petronas is currently ranked 167th on the Fortune Global 500 list, reflecting its weight in the global energy market. Its formal entry into the Chinese LNG market reinforces its commitment to sustainable, low-carbon energy development, both in Asia and globally.
Source and photo: Petronas