Petronas Wants Malaysia to be Regional LNG Bunkering Hub

January 22, 2019

Dateline 2018-12-14, MarineLink:

Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019.

“As a major player in the LNG business, PETRONAS is well-positioned to support the strategic intent for Malaysia to become the regional LNG bunkering hub,” it said in the Petronas Activity Outlook 2019-2021 report.


Malaysia’s Petronas completes first commercial LNG cool-down service at Bintulu

December 21, 2018

So before this, what did they do at Bintulu Port?
Dateline 2018-11-05, S&P Global:

Malaysia’s state-owned Petronas has completed its first commercial gassing up and cooling down service at the Bintulu LNG export plant in northern Borneo, adding to the company’s portfolio of LNG-related services in Southeast Asia.

The operation, which consists of cooling down an LNG carrier’s tanks to cryogenic temperature after dry-docking and before loading its next cargo, was performed on the vessel Singapore Energy in approximately 11 hours, Petronas said in a statement on Monday


Malaysia’s Petronas completes first LNG bunkering operation at Pengerang

December 17, 2018

Dateline 2018-11-02, SPGlobal:

Malaysia’s state-owned Petronas has completed its first LNG bunkering operation at the Pengerang LNG terminal, an achievement that reaffirms the company’s efforts to compete in a key growing segment, where neighboring Singapore has invested heavily.


Petronas expects balance in oversupplied LNG market in 2023

September 17, 2017

Dateline 2017-08-15, Reuters:

Malaysian state energy company Petroliam Nasional Berhad [PETR.UL] expects the global liquefied natural gas (LNG) market to remain oversupplied until as late as 2023, its chief executive said on Tuesday.

Rising LNG production over the last two years, mainly from Australia and the United States, has exceeded demand and depressed prices. Asian spot LNG prices LNG-AS are now down by around 70 percent from early 2014.

Petronas, as the company is better known, only last month scrapped a proposed $29 billion LNG terminal project in western Canada, saying market conditions made the project “economically unviable”.

 


Malaysia’s Petronas says fire put out at LNG complex

August 31, 2016

Done and done.

Dateline 2016-07-30, Reuters:

Malaysia’s state-owned state oil firm Petroliam Nasional Bhd said on Saturday that a fire occurred at its liquefied natural gas (LNG) plant in the East Malaysian state of Sarawak.

The fire broke out at 0140 GMT at a transformer in the Bintulu LNG complex and was extinguished, a company statement said.

 


Thailand’s PTT plans to invest more in Malaysia

August 19, 2016

Dateline 2016-07-13, Reuters Africa:

PTT Pcl, Thailand’s top energy firm, plans to invest more in neighbouring Malaysia including cooperation in a liquefied natural gas (LNG) project, Chief Financial Officer Wirat Uanarumit said on Wednesday.

State-controlled PTT is studying the possibility of joint investments in several projects, Wirat said but declined to give further details.

PTT has been in talks with several LNG suppliers to secure long-term energy supplies as Thailand uses natural gas for almost 70 percent of its power generation.

PTT already has a joint venture, Trans Thai-Malaysia (Thailand) Ltd, with Malaysia’s Petronas to overlook the gas pipeline and gas separation plant projects since 2000.

In June, PTT cut its 2016 investment budget by 15 percent to 43.31 billion baht ($1.23 billion), which is part of its five-year plan to spend 297 billion baht during 2016-2020.


JX Nippon Oil, Petronas team on Malaysian LNG venture

July 1, 2016

Dateline 2016-06-03, Nikkei Asian Review:

 JX Nippon Oil & Energy will work with Malaysian state-run oil company Petronas to tap the Southeast Asian market for liquefied natural gas, aiming to take advantage of rising demand fueled by economic growth.

The Japanese company will invest roughly 60 billion yen ($552 million) in the operator of an LNG plant to be built by Petronas in northern Borneo. The plant, to debut in 2017, will have an annual capacity of 3.6 million tons, equivalent to 10% of Malaysia’s LNG market.

The LNG will be sold through a Petronas subsidiary to local power companies as well as to gas companies in Japan, South Korea and Taiwan. JX Nippon Oil plans to team with Petronas to market to other Southeast Asian countries as well. The Japanese company hopes to earn more than 100 billion yen over the life of the contract, which runs until 2037.