Petronas Eyes LNG Supply Deal with Philippines Amid Global Energy Uncertainty
Petronas, Malaysia's state-owned energy giant, has reaffirmed its interest in supplying liquefied natural gas (LNG) to the Philippines. This move comes as the country grapples with power supply constraints and the impact of the Middle East war on global energy markets.
According to Petronas LNG Ltd. CEO Rosdi Ab Rahman, the company is engaging directly with players in the Philippines to support their growing demand for reliable fuel. 'A lot of discussion is ongoing now' as talks over potential LNG contracting strategies continue, he said.
Petronas has previously delivered spot LNG cargoes to the Philippines from its massive LNG complex in Bintulu, Sarawak in Malaysia. Ab Rahman noted that LNG cargoes from Malaysia could reach the Philippines in around two days, positioning Petronas as a reliable supplier amidst heightened volatility in global energy markets.
The company is banking on its geographic advantage and investing in a modern fleet capable of delivering LNG safely and reliably to partners. As it accelerates upstream production to strengthen gas supply, Petronas aims to fill part of the gap in regional demand amid ongoing disruptions in the Middle East.