Japan Secures Emergency LNG Deal with Petronas Amid Global Energy Tensions
Japan has signed its first emergency liquefied natural gas (LNG) procurement agreement with Malaysia's Petronas, a move aimed at securing alternative energy supplies. Under the master sales and purchase agreement, Petronas will deliver LNG to the Japan Organization for Metals and Energy Security (JOGMEC), which will then supply private buyers, including utilities, when they cannot secure LNG through other channels.
Tetsuya Azuma, a director of the Japanese ministry's energy resources development division, did not provide specific details about the volume or contract duration. However, he stated that Japan plans to pursue similar agreements with additional countries.
Petronas Executive Vice President and CEO of gas & maritime business, Datuk Adif Zulkifli, said the agreement reflects the trust built with JOGMEC over many years. He noted that the agreement will enable Petronas to better respond to evolving energy needs and contribute to greater supply resilience.
Separately, Japan also signed a memorandum of cooperation with Montenegro on energy projects, which includes developing an LNG receiving terminal and gas-fired power plant.