Petronas signs agreement to explore LNG bunkering

Malaysian oil giant says tie-up will help promote use of LNG beyond existing market portfolio.

Petronas has teamed up with French-Japanese group Gas4Sea to identify business opportunities in the LNG bunkering sector.

The memorandum of understanding was signed between Petronas LNG and MISC and Gas4Sea partners Engie SA, Mitsubishi Corp and NYK.

Gas4Sea was formed last year to jointly promote LNG as the cleaner maritime fuel by providing ship-to-ship LNG bunkering operation in the global market.

Commenting on the MoU, Petronas LNG chief executive Ezhar Yazid Jaafar said that the collaboration is expected to enhance Petronas’ strong presence in the integrated LNG value chain and diversified LNG market portfolio.

“Petronas is looking at ways to further promote the consumption of LNG beyond the existing markets portfolios, and advocating LNG as marine fuel is a new frontier for the LNG sector.

“In addition, this collaboration will also support the usage of LNG as a fuel of choice for maritime activities, which is in line with Petronas’ effort in helping the industry reduce its carbon footprint.”

The Gas4Sea partners already operate the world’s first purpose-built LNG bunkering vessel based in the port of Zeebrugge.