Japan Inks First Emergency LNG Deal with Malaysia's Petronas

Japan has entered into its first emergency liquefied natural gas (LNG) agreement with Malaysia's Petronas, according to a statement from the Japanese industry ministry. The deal, announced on Friday, will see Petronas supply LNG to the Japan Organization for Metals and Energy Security (JOGMEC), which will then distribute it to private buyers when they cannot secure it through other channels.

Tetsuya Azuma, a director of the Japanese ministry's energy resources development division, highlighted the importance of this agreement in a press conference following the LNG Producer-Consumer Conference in Tokyo. He noted that Japan plans to pursue similar deals with additional countries. However, he did not provide specific details about the volume or contract duration.

Petronas Executive Vice President and CEO of gas & maritime business, Datuk Adif Zulkifli, expressed his company's commitment to this agreement in a statement. He stated that it reflects the trust built with JOGMEC over many years and will contribute to greater supply resilience.