PETRONAS, through its subsidiary PETRONAS LNG Ltd., signed a sale and purchase agreement (SPA) with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. to supply 1 million tons per year of liquefied natural gas (LNG) on a long-term basis. This new agreement is part of the continent’s growing energy needs, at a time when Asian countries are accelerating their transition to cleaner and more secure sources.
Cleaner energy for a China with clear goals
The initiative directly supports China’s “dual carbon” targets to reach peak emissions by 2030 and achieve carbon neutrality by 2060. The LNG supply will provide a cleaner alternative to coal and other fossil fuels, while strengthening the Asian country’s energy security.
PETRONAS stresses that agreements of this kind make it possible to actively contribute to China’s economic growth through more sustainable energy solutions.
Comprehensive strategy and long-term collaboration
According to Shamsairi M Ibrahim, vice president of LNG Marketing and Commercialization at PETRONAS, the agreement reflects an evolution in the collaboration between the two companies. Going beyond the simple supply of gas, this is a structured partnership with a long-term vision, based on trust, reliability and a mutual commitment to the energy transition.
The executive noted that the company has designed this pact considering a balance between its international commitments, national energy security and economic development objectives, consolidating its holistic approach to the LNG portfolio.
One step closer to a collaborative energy future
With this new agreement, PETRONAS and CNOOC not only move forward in commercial terms, but also send a clear signal of cooperation in a global environment marked by climate urgency and the need for stable energy partnerships. The relationship between the two entities is projected as a pillar for LNG supply in the region, simultaneously supporting economic growth and climate commitments.
Source: PETRONAS