05/16/2017 | Press release | Distributed by Public on 05/17/2017 01:45
PETRONAS through its subsidiary PETRONAS LNG Ltd. (PLL) and its shipping affiliate, MISC Berhad (MISC) inked a non-binding Memorandum of Understanding (MoU) on 9 May 2017 with Gas4Sea partners, comprising ENGIE S.A. (ENGIE), Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) to explore potential collaboration in p romoting LNG as the preferred marine fuel.
Gas4Sea is a partnership created to jointly promote LNG as the cleaner maritime fuel, by providing LNG bunkering services in the global market.
Under the terms of the MoU, the parties will explore ways to collaborate and identify potential business opportunities in relation to LNG bunkering.
Signing on behalf of PLL and MISC were PLL Chief Marketing Officer & Chief Executive Officer, Ezhar Yazid Jaafar and MISC Vice President of LNG Business Unit, Faizul Ismail while Gas4Sea partners were represented by MC General Manager of LNG Bunkering Business Office, Yuji Toshima, ENGIE Senior Vice President of Business Development Asia, Denis Bonhomme, and NYK Manager of Fuel Project Team, Takahiro Nito.
Commenting on the MoU, Ezhar said that the collaboration is expected to enhance PETRONAS' strong presence in the integrated LNG value chain and diversified LNG market portfolio.
'PETRONAS is looking at ways to further promote the consumption of LNG beyond the existing markets portfolios, and advocating LNG as marine fuel is a new frontier for the LNG sector,' said Ezhar.
Gas4Sea partners are major players in the energy and global shipping industries. With their world's first purpose built LNG bunkering vessel based in the port of Zeebrugge , they are equipped with a key piece of the LNG bunkering value chain to extend the reach of LNG to fuel the marine transportation sector.
'In addition, this collaboration will also support the usage of LNG as a fuel of choice for maritime activities, which is in line with PETRONAS' effort in helping the industry reduce its carbon footprint,' continued Ezhar.
With over 40 years of experience in the oil and gas industry, PETRONAS is recognised as a reliable fully integrated oil and gas multinational with a proven track record in operations spanning the entire hydrocarbon value chain.
PETRONAS Group has diversified its LNG supply portfolio in recent years with the addition of Australia Gladstone LNG and PETRONAS First Floating LNG Facility in offshore Sarawak.
Group Strategic Communications