Petronas Ready to Meet Rising LNG Demand in Asia

Petronas is well-positioned to capture growing demand for liquefied natural gas (LNG) in Asia, driven by its diversified supply portfolio and expanding production capacity in Malaysia. The company's integrated LNG portfolio includes established operations in Bintulu, Sarawak, as well as supplies from Canada and an upcoming facility in Sabah.

This portfolio provides the flexibility and reliability required by Asian buyers, said Petronas' LNG marketing and trading vice-president Ezran Mahadzir. The new plant in Sabah is expected to add two million tonnes of capacity to the company's portfolio next year.

Ezran noted that demand growth in mature markets such as Japan and South Korea could be relatively saturated, but LNG would continue to play an important role amid efforts to reduce coal use in their energy mixes. In Southeast Asia, LNG demand is expected to grow, although the region faces challenges in terms of infrastructure development.

Petronas' experience as an integrated energy company enables it to support partners across the LNG value chain, said Ezran. The company takes a long-term view when making investment decisions and believes its diversified portfolio will enable it to manage short-term market volatility.