Malaysia’s Petronas set to sign LNG supply deal with QatarEnergy: sources

[DOHA] Malaysia’s state-owned firm Petronas is set to sign a liquefied natural gas (LNG) supply deal with QatarEnergy as the South-east Asian nation seeks more supplies of the super-chilled fuel, two sources familiar with the matter told Reuters.

Petroliam Nasional, or Petronas, will sign a contract for up to two million metric tonnes per annum (mtpa) of LNG, one of the sources said.

Qatar is the world’s second-largest LNG exporter after the United States, shipping out 81.1 million tonnes of the fuel last year, according to Kpler data. QatarEnergy signed a massive LNG deal with Japan’s Jera on Tuesday.

Its massive North Field expansion project will produce its first LNG in the second half of 2026. When at full production, the project is expected to produce 126 million metric tonnes of LNG per annum by 2027, boosting QatarEnergy’s output by some 85 per cent from its current 77 mtpa.

Neither company responded to a request for comment outside of working hours.

Petronas is up against dwindling domestic gas reserves while local demand for the fuel rises, prompting it to actively pursue new gas opportunities abroad and form partnerships with other energy firms while seeking new long-term LNG import deals.

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The firm said last year that it is working to get a third regasification plant up and running in Malaysia.

In recent years, Petronas has signed LNG import deals with Woodside Energy, Commonwealth LNG, Venture Global and Adnoc. REUTERS