Long-term deal supports China’s Dual Carbon ambitions and reinforces PETRONAS’s role as a reliable LNG partner in Asia
PETRONAS, through its subsidiary PETRONAS LNG Ltd., has entered into a Sale and Purchase Agreement (SPA) with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. for the supply of 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG).
The agreement builds on the long-standing working relationship between PETRONAS and CNOOC, strengthening cooperation in LNG supply while supporting China’s economic growth, and national clean energy agenda, including the 'Dual Carbon' aspirations of peaking emissions before 2030 and achieving carbon neutrality by 2060.
In structuring this agreement, PETRONAS has taken a holistic approach to its LNG portfolio and ensured a balance between international commitments and domestic energy security and economic development.
Shamsairi M Ibrahim, Vice President of PETRONAS LNG Marketing and Trading, stated: 'This agreement marks an elevation of our relationship with CNOOC, advancing our shared commitment to energy security and a lower carbon future. Beyond supplying LNG, it reflects the continued development of our long-term partnership. PETRONAS remains committed to delivering reliable and cleaner LNG solutions, working with partners to advance shared energy transition goals.'
This long-term commitment reinforces PETRONAS’ position as a trusted LNG partner to China, while reflecting ongoing collaboration with CNOOC, in one of Asia’s most dynamic gas markets. With Asia’s rising demand for lower-carbon fuels, PETRONAS will continue to deliver LNG from its established portfolio to support customers’ evolving energy needs across the region.
Source: PETRONAS
