Malaysia’s Petronas inks first LNG virtual deal

Malaysia’s Petronas inks first LNG virtual deal

May 20, 2020

KUALA LUMPUR (Reuters) – Malaysia’s national oil firm, Petroliam Nasional Bhd, has concluded a sales and purchase agreement with Tiger Clean Energy Limited (TCEL) via video teleconference to supply a tank facility on the island of Borneo, it said on Wednesday.

Petronas will supply TCEL’s LNG ISO Tank Filling Facility at Bintulu in Sarawak for onward distribution to China.

“Through this modern approach in delivering LNG, we established a virtual pipeline that effectively enables LNG to reach off-grid customers who are not directly served by the natural gas distribution system in China,” said Ahmad Adly Alias, Petronas’ vice president for LNG marketing and trading.

(Reporting by Mei Mei Chu)