PETRONAS and ENEOS Xplora ('ENEOS') have reaffirmed their long-standing partnership, first established in 1995, through the signing of definitive agreements formalising ENEOS’ re-entry into Malaysia LNG Tiga Sdn. Bhd. (MLNG Tiga).
Subject to the fulfilment of certain closing conditions, ENEOS will hold a 10 percent equity stake in MLNG Tiga for the next decade, following the expiry of the previous MLNG Tiga Joint Venture Agreement in 2023.
The agreements were signed by PETRONAS Executive Vice President & Chief Executive Officer of Gas & Maritime Business, Datuk Adif Zulkifli and ENEOS Xplora Representative Director and President, Yasuhiko Oshida.
Witnessing the signing ceremony were PETRONAS Senior Vice President, Corporate Strategy, Marina Md Taib and Executive Officer and Senior Vice President and Head of Business Division 1, ENEOS Xplora, Jotaro Tomoeda.
The agreement marks a significant milestone in the enduring partnership between PETRONAS and ENEOS, reflecting shared commitment to strengthening long-term energy security and supporting reliable LNG supply to international markets, particularly Japan, amid an increasingly complex and volatile global energy landscape.
'LNG continues to play an indispensable role in the global energy mix, bridging the demands of today's economies while supporting a credible transition toward lower-carbon futures. With Asia at the centre of global LNG demand growth, stable supply and long-term partnerships remain fundamental to economic resilience across the region. The collaboration with ENEOS which now spans three decades reflects that long-term conviction, one that continues to serve the energy interests of both nations well into the decades ahead,' said PETRONAS President and Group Chief Executive Officer Tan Sri Tengku Muhammad Taufik.
ENEOS’ re-entry underscores continued confidence in MLNG Tiga’s operational resilience and long-term value proposition, as well as PETRONAS’ proven capabilities as a world-class LNG operator and trusted partner.
'ENEOS’ re-entry into MLNG Tiga reflects shared confidence in the asset’s resilience and long-term role within Asia’s LNG landscape. It also reinforces PETRONAS’ focus on building a reliable LNG system that continues to deliver value to customers and partners, particularly in important markets such as Japan,' said Adif Zulkifli.
'MLNG Tiga has been a project that has steadily supplied LNG to Japanese buyers since commencing operations in 2003, under the cooperation between our group and PETRONAS, and we are very pleased to be participating once again. While further strengthening our partnership with PETRONAS, we will also work closely with our fellow shareholders - the Sarawak State Government and Mitsubishi Corporation, to pursue new value creation during the energy transition,' said Yasuhiko Oshida.
The agreement reinforces continued foreign investor confidence in Malaysia’s investment climate and long-term growth prospects. This reflects the country’s strong fundamentals, supported by a stable regulatory framework and a conducive business environment that continues to attract long-term investments in the energy sector.
Source: PETRONAS
