Petronas wins 10-year LNG supply deal from Japan's Hokuriku Electric Power

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), through subsidiary Malaysia LNG Sdn Bhd (MLNG), has signed an agreement with Hokuriku Electric Power Co to supply up to six cargoes of liquefied natural gas (LNG) a year to the Japanese company for 10 years beginning March 2018.
The agreement makes Hokuriku Electric Power the latest addition to MLNG’s customer list and adds a milestone to Petronas’ LNG business portfolio. The value of the supply agreement of the was not disclosed.
MLNG chairman Datuk Mohd Anuar Taib said the signing was a significant milestone in the relationship between MLNG and Hokuriku Electric Power.
“We would like to thank HRE (Hokuriku Electric Power) for placing their trust in Petronas to be a main LNG supplier for the 10 years beginning 2018. We hope the agreement signed will continue to build and strengthen our new relationship,” he said in a statement.
MLNG was established in 1978 and operates the Petronas LNG Complex in Bintulu, one of the world’s largest LNG complexes operating at a single site.
Established in 1951, Hokuriku Electric Power is responsible for the supply of electricity to Toyama Prefecture and surrounding regions in Japan.
Apart from the Petronas LNG Complex in Bintulu, Petronas has embarked on new LNG projects in Malaysia and internationally as part of its continuous efforts to strengthen the security of supply to the country and increase its LNG supply portfolio for future global demand.