PETRONAS Locks in Decade-Long LNG Deal with Japanese Utility Firm

PETRONAS has renewed its agreement to supply liquefied natural gas (LNG) to Japanese utility firm Hokuriku Electric Power Company. Under the new deal, signed on July 14, PETRONAS will continue to sell up to 0.54 million tonnes of LNG annually for 10 years starting in 2028.

The transaction price was not disclosed. Datuk Adif Zulkifli, head of PETRONAS' gas and maritime business, said PETRONAS remains committed to delivering reliable LNG supply while supporting Hokuriku Electric's energy security, operational resilience, and transition journey.

PETRONAS has been the sole supplier of LNG to Hokuriku Electric since 2018. The companies have also signed a memorandum of understanding (MOU) to explore strategic collaboration on carbon-neutral initiatives, including fuels like hydrogen and ammonia, and renewable energy, as well as decarbonisation technologies.