Malaysia's Petronas inks first LNG virtual deal
Reuters
Published May 19, 2020 11:53PM ET
KUALA LUMPUR (Reuters) - Malaysia's national oil firm, Petroliam Nasional Bhd, has concluded a sales and purchase agreement with Tiger Clean Energy Limited (TCEL) via video teleconference to supply a tank facility on the island of Borneo, it said on Wednesday.
Petronas will supply TCEL’s LNG ISO Tank Filling Facility at Bintulu in Sarawak for onward distribution to China.
"Through this modern approach in delivering LNG, we established a virtual pipeline that effectively enables LNG to reach off-grid customers who are not directly served by the natural gas distribution system in China," said Ahmad Adly Alias, Petronas' vice president for LNG marketing and trading.
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Written By: Reuters
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