Petronas in first India LNG supply deal with H-Energy

For illustration purposes only (Image courtesy of MISC)

A unit of Malaysian energy giant Petronas has signed a liquefied natural gas (LNG) deal to supply the chilled fuel to India.

Petronas LNG signed the sale and purchase agreement with H-Energy Mideast DMCC (HEMD), a Dubai-based wholly-owned unit of Hiranandani Group’s H-Energy.

The deal signed on January 24 is the first Indian LNG supply deal for Petronas that operates the giant Bintulu LNG complex in Sarawak.

Petronas did not reveal the amount of LNG it would sell to H-Energy nor the time frame.

The company said that the deal was in line with its growth strategy to expand its LNG supply and “help meet rising demand for clean and reliable energy in the fourth-fastest-growing economy in the world.”

Petronas says it is currently the third largest LNG player globally. It has also diversified its LNG supply portfolio in recent years with the inclusion of Australia Gladstone LNG and the world’s first floating LNG facility, the PFLNG Satu.

On the other side, H-Energy is developing LNG import projects in India. Recently, it joined forces with Japanese shipping company Kawasaki Kisen Kaisha (K Line) for an LNG import development in West Bengal on the east coast of India.

 

LNG World News Staff

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