Saturday, July 12, 2025

Petronas News

Venture Global signs 20-year LNG contract with Petronas

Venture Global Inc, a U.S. LNG exporter, announced Thursday that Petronas had agreed to purchase 1 million metric tonnes of LNG from the CP2 Project. This is its first new CP2 client in two years. Venture Global, a startup just three years ago has grown to be the second largest LNG producer in the United States and played a major role in keeping this country stable. According to a person who has knowledge of this matter, Petronas's 20-year deal would supply oil from the first phase of the project.

Canada exports first LNG cargo from Pacific Coast

A spokesperson for Shell-led LNG Canada confirmed on Monday that Canada's first LNG export cargo was shipped from its Pacific Coast to Asia. The cargo was loaded on the tanker Gaslog Glasgow at LNG Canada's Kitimat site, British Columbia. This happened just over a weeks after the facility had confirmed its first production. It became the first large commercial LNG operation of the country. LNG Canada is North America's first major LNG plant with direct access to Pacific Coast.

Canada Produces First LNG For Export

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The Shell-led Canada facility has produced its first liquefied natural gas for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday.The new production, which will go mainly to Asia, comes amid concerns over disruptions to the 20% of global gas supply coming from Qatar, due to the Israel-Iran conflict and the possibility of Tehran closing the Strait of Hormuz, a key shipping lane.The facility has not yet loaded its first LNG export cargo…

LNG Canada produces first liquefied natural gas for export

A Shell-led LNG Canada facility in Kitimat has produced the first liquefied gas for export, confirmed a project spokesperson on Sunday. This milestone is in anticipation of LNG Canada loading its first LNG cargo at the facility, which it said will be done by the middle this year. It is also the first major LNG plant in North America to have direct access to the Pacific Coast, thereby reducing the sailing time to Asian markets compared to U.S. Gulf Coast facilities.

LNG Canada produces first liquefied natural gas for export, sources say

Two people who were familiar with the start-up of the plant said on Sunday that the Shell-led LNG Canada has produced its first liquefied gas for export. One of the sources said that "at 4 a.m. This is the first large-scale Canadian project to start production. It's also the first major North American facility with direct access on the Pacific Coast, reducing the sailing time to Asian markets. According to the company…

Canada Could Produce First LNG by This Weekend

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Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday.The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in North America with direct access to the Pacific coast, significantly reducing…

Sources say Canada could produce its first LNG this weekend

Two people who are familiar with the launch of the plant said on Wednesday that Canada could produce the first liquefied gas ever this weekend. This facility will be the only LNG plant in North America that has direct access to the Pacific Coast, reducing the sailing time to Asian markets. According to the company, when fully operational, it will be able to export 14 millions metric tons per year (mtpa). "We started cooling down Train 1 Monday.

Energy companies race to Southeast Asia for gas to meet AI power demand

Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable. Southeast Asian governments also want to increase the affordability of local gas to improve economic growth and energy security.

Staatsolie, Petronas sign production-sharing contract for deepwater block in Suriname

Staatsolie, the state energy company of Suriname, and an affiliate from Malaysia's Petronas signed a contract on Tuesday for a production sharing agreement to explore and develop an offshore oil-and-gas block. Suriname will soon begin producing offshore natural gas and crude oil after companies such as TotalEnergies and APA discovered reserves that could be developed commercially. Staatsolie has the option to buy up to 20% of each area.

Petronas CEO: Company is planning to import LNG within 4-5 years

The chief executive of Malaysian state-owned energy company Petroliam Nasional said that the firm is preparing to face a scenario where the country, which is currently a major LNG exporter in the world, begins to import super-chilled fuel. Tengku Muhammad Taufik, the Chief Executive of Petronas, said that they plan to import LNG within four to five year. He made this statement at a conference press briefing. The domestic gas demand in Southeast Asia is expected to rise.

Shell CEO: Local price index makes LNG Canada attractive

Shell's LNG Canada is attractive to buyers because it uses a Canadian Alberta Energy Company price index, which is lower in comparison with the Henry Hub price for the U.S. The company's CEO said this on Tuesday. Shell CEO Wael Sawan told the Energy Asia Conference that the AECO indexation is what makes LNG Canada so attractive in the modern world. He added that the AECO gas will be available at lower prices.

Malaysia PM pledges $10 billion for national grid upgrade

Anwar Ibrahim, Malaysia's Prime Minister, said that Tenaga Nasional had committed to upgrading the national grid infrastructure with 43 billion ringgit (about $10 billion). Anwar, who opened the Energy Asia Conference, said that the grid upgrade will help the country achieve its ambitions in artificial Intelligence and battery energy storage system. Anwar also said that he plans to build three carbon-capture storage facilities offshore to serve the oil and gas industry as well as other industries.

Executive of Malaysian energy company Petronas says that the company has no plans to leave Canada

The CEO of Petronas' Canadian subsidiary, who spoke on Tuesday, said that the Malaysian company has no plans to abandon Canada. He added that the company was committed to exporting LNG off Canada's West Coast for decades. Petronas Canada's CEO Mark Fitzgerald said that the rumor of Petronas leaving Canada was "absolutely not true" on the sidelines an energy conference held in Calgary. Bloomberg reported that Petronas is considering selling its Canadian company Progress Energy Resources Corp.

Malaysia's Petronas targets China and Vietnam while looking for long-term LNG supplies

A Malaysian company, Petroliam Nasional or Petronas aims to increase its liquefied gas sales in markets like China and Vietnam, while also seeking to secure a more long-term supply of North America and emerging market markets. These regions offer significant opportunities because of their rapid economic growth and growing energy needs. Shamsairi stated that Petronas aims to work with China in other areas of lower-carbon energy including renewable energy and hydrogen.

Maintenance at Bintulu's complex in Malaysia leads to slowing of loadings and exports

A person familiar with the matter told Reuters on Thursday that two terminals at Petronas’ Bintulu LNG plant are being maintained. This is slowing down shipments out of Asia’s largest LNG exporting complex. MLNG Satu is scheduled to restart operations on 24 May, while MLNG Dua resumes operations on 26 May. This will allow MLNG Tiga's production to reach its full potential. The Malaysian state-owned Petroliam Nasional (or Petronas) controls the LNG complex…

Petronas wants Kutai Basin properties as part of the planned Eni tie up

A senior executive at Malaysian state energy firm Petronas said Tuesday that it wants to include oil projects in Indonesia's Kutai Basin as part of its joint venture with Eni. Petronas, the Italian oil giant and other upstream assets will be managed by the joint venture in Indonesia and Malaysia. The combined reserves are estimated at 3 billion barrels equivalent to oil (boe), with additional reserves that could reach 10 billion boe.

ADNOC's XRG acquires stake in Turkmenistan Gas Block

XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), announced on Wednesday that it had acquired a stake in a Turkmenistan offshore natural gas block as part of its ambitious expansion plans. XRG was set up in late 2018 and ADNOC reported that it has assets worth $80 billion. Its mandate is to pursue global deals for chemicals, natural gases and renewables. Abu Dhabi wants to create a portfolio of companies in these areas, and rely less and less on oil exports.

Indonesia awarded five oil and gas blocks as it seeks energy security

Indonesia has awarded five oil blocks and gas blocks to various companies, the energy ministry announced on Wednesday. The country is trying to increase its oil reserves and energy security. In the next few years, the government will offer more than 60 oil and natural gas blocks in an effort to reverse the decade-long decline of production. In an online broadcast of Wednesday's awards, Tri Winarno said that…

Malaysia's Petronas has secured extra gas supplies after being hit by the Putra Heights pipeline explosion

Petroliam Nasional, the Malaysian oil-and-gas giant, said it had secured additional supplies of gas to minimize the supply disruptions that were caused by the massive fire that broke out at the Putra Heights Pipeline earlier in the month. PETRONAS Energy & Gas Trading has acquired an additional 155 million cubic feet of gas per day, bringing the total volume of supply to 400 MMSCFD through the Trans Thailand-Malaysia gas pipeline system (TTM), the company announced.

Inpex, a Japanese company, has begun engineering design work for Indonesia's Abadi Liquefied Natural Gas project

Inpex Corp., a Japanese oil and natural gas exploration company, started Wednesday the front-end design process of its Abadi project for liquefied gas in Indonesia as the government pressed the company to speed up development. Shell's withdrawal from the project, the request by the previous administration for the LNG plant to be moved onshore and the change of the development plan that included a component to capture and store carbon were all factors in years-long delays.

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