Malaysia’s Petronas faces gas test in move to net zero

Dateline 2021-12-27, Argus Media:

Malaysia’s state-owned Petronas’ decision about how to move forward with its gas supplies after announcing a 2050 net-zero target has been complicated by current high spot LNG prices.

The firm’s net-zero plan includes hydrogen as a crucial step. It said blue hydrogen offers a way to monetise the 1.5 trillion m³ of shale gas reserves it owns as part of a joint venture in Canada. But current “spectacular” LNG prices are complicating the picture. “There’s this energy transition going on… but now LNG is looking beautiful. The price is spectacular,” Petronas’ hydrogen business head Adlan Ahmad said.

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