KUALA LUMPUR, Dec 24 — Petroliam Nasional Bhd (Petronas), via its subsidiary Petronas LNG Ltd, has entered into a sale and purchase agreement (SPA) with CNOOC Gas and Power Singapore Trading & Marketing Pte Ltd for the supply of 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG).

In a statement today, Petronas said the agreement builds on the long-standing working relationship between Petronas and CNOOC, strengthening cooperation in LNG supply while supporting China’s economic growth and the national clean energy agenda.

It said these include the “dual carbon” aspirations of peaking emissions before 2030 and achieving carbon neutrality by 2060.

“This long-term commitment reinforces Petronas’s position as a trusted LNG partner to China, while reflecting ongoing collaboration with CNOOC, in one of Asia’s most dynamic gas markets,” it said. 

With Asia’s rising demand for lower-carbon fuels, Petronas said it will continue to deliver LNG from its established portfolio to support customers’ evolving energy needs across the region.

Petronas LNG Marketing and Trading vice-president Shamsairi M Ibrahim said this agreement with CNOOC marks an elevation of the company’s relationship with CNOOC, advancing the shared commitment to energy security and a lower-carbon future.

“Beyond supplying LNG, it reflects the continued development of our long-term partnership. Petronas remains committed to delivering reliable and cleaner LNG solutions, working with partners to advance shared energy transition goals,” he added. — Bernama