Report: Petronas to sell LNG to EDF Trading

Report: Petronas to sell LNG to EDF Trading

Malaysia’s Petronas is reportedly looking to sign a deal with EDF Trading for the delivery of limited LNG volumes over a period of three years. 

Reuters reports, citing industry sources, that the London-based trading arm of France’s EDF will be delivered one LNG cargo per quarter. However, the trader has the option to turn down two deliveries per year.

Petronas, that has extended its deal with China’s JOVO to supply liquefied natural gas up until at least 2023, has been finding it difficult to place the excess volumes. The imminent start-up of its first FLNG unit will add to the supply.

EDF Trading has also recently agreed to buy about 1.5 million mt of LNG from Jera, one of the world’s largest LNG buyers, a joint venture between Chubu Electric and Tepco, turning the buyer into a seller.

Petronas volumes will go into EDF’s global portfolio and have no fixed destinations.

 

LNG World News Staff

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