KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd, and Venture Global LNG signed a new 20-year sales and purchase agreement (SPA) for the purchase of one million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global's Plaquemines LNG facility.
In a statement today, Venture Global said that with this agreement, the company has now announced 20-year sales for 16 MTPA of the 20 MPTA nameplate capacity at Plaquemines LNG.
"Venture Global is proud to begin a new, long-term supply partnership with Petronas, a world-renowned and experienced leader in global LNG engineering and operations," chief executive officer Mike Sabel said.
"This contract represents a significant expansion of our existing customer base in Asia. We look forward to Petronas bringing our competitive, lower-carbon energy into Southeast Asia, a region with rapidly growing gas demand."
Petronas vice president of LNG marketing and trading Shamsairi Ibrahim said the group looks forward to the long-term LNG partnership with Venture Global, which will support the growth and accessibility of natural gas.
"With the growing demand for energy security, the addition of the new volume certainly enhances Petronas' global supply portfolio and demonstrates our support of the energy transition towards a lower carbon future," he said.