PETRONAS concludes LNG deal with Shenergy

PETRONAS, through its subsidiary, PETRONAS LNG Ltd. (PLL), signed a Heads of Agreement (HOA) with Shenergy Group Company Limited (Shenergy) to supply approximately 1.5 MTPA of liquefied natural gas (LNG) to its Wuhaogou receiving terminal in China. 
The LNG supply agreement is for a 12-year term starting from 2022, also involves a shipping collaboration to construct and charter new mid-sized LNG vessels for the cargo delivery. Through this new long-term agreement, PETRONAS continues to establish itself as Shenergy’s preferred LNG solutions partner, has been a major LNG supplier to its subsidiary, Shanghai LNG Co., Ltd since 2006.
The new deal for additional LNG supply allows PETRONAS to support Shenergy’s increasing demand for LNG, while further strengthening PETRONAS’ foothold in the LNG markets.
PETRONAS Executive Vice President and Chief Executive Officer of Gas & New Energy, Adnan Zainal Abidin said PETRONAS values the long-term relationship with Shenergy, which has continued to grow, from strength-to-strength since 2006.
The signing of the HOA between PETRONAS and Shenergy was witnessed by PETRONAS President and Group Chief Executive Officer, Tan Sri Wan Zulkiflee Wan Ariffin.
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