Petronas LNG, MISC, Gas4Sea ink MoU to promote LNG

Posted on : 16-05-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Petronas, via its unit Petronas LNG Ltd (PLL) and shipping affiliate MISC Bhd, has inked a non-binding deal with Gas4Sea partners to explore potential collaboration in promoting liquefied natural gas (LNG) as the preferred marine fuel.
Petronas, which also stands for Petroliam Nasional Bhd, said in a statement today the Gas4Sea partners are ENGIE S.A., Mitsubishi Corp and Nippon Yusen Kabushiki Kaisha (NYK). The non-binding memorandum of understanding was inked last Tuesday (May 9).
Gas4Sea, it said, is a partnership created to jointly promote LNG as the cleaner maritime fuel by providing LNG bunkering services in the global market.
“Under the terms of the MoU, the parties will explore ways to collaborate and identify potential business opportunities in relation to LNG bunkering,” the statement read.
The MoU was signed by PLL chief marketing officer and chief executive officer Ezhar Yazid Jaafar, and MISC vice president of LNG business unit Faizul Ismail.
Gas4Sea partners were represented by Mitsubishi general manager of LNG bunkering business office Yuji Toshima, ENGIE senior vice president of business development Asia Denis Bonhomme, and NYK manager of fuel project team Takahiro Nito.
Ezhar said the collaboration is expected to enhance Petronas’ strong presence in the integrated LNG value chain and diversified LNG market portfolio.
“Petronas is looking at ways to further promote the consumption of LNG beyond the existing markets portfolios, and advocating LNG as marine fuel is a new frontier for the LNG sector,” said Ezhar.
“In addition, this collaboration will also support the usage of LNG as a fuel of choice for maritime activities, which is in line with Petronas’ effort in helping the industry reduce its carbon footprint,” he added.
According to Petronas, Gas4Sea partners are major players in the energy and global shipping industries. “With their world’s first purpose built LNG bunkering vessel based in the port of Zeebrugge in Belgium, they are equipped with a key piece of the LNG bunkering value chain to extend the reach of LNG to fuel the marine transportation sector.”
Petronas, meanwhile, noted it has diversified its LNG supply portfolio in recent years with the addition of Australia Gladstone LNG and Petronas’s first floating LNG facility in offshore Sarawak.
SOURCE: THE EDGE MARKETS
KUALA LUMPUR: Petronas, via its unit Petronas LNG Ltd (PLL) and shipping affiliate MISC Bhd, has inked a non-binding deal with Gas4Sea partners to explore potential collaboration in promoting liquefied natural gas (LNG) as the preferred marine fuel.
Petronas, which also stands for Petroliam Nasional Bhd, said in a statement today the Gas4Sea partners are ENGIE S.A., Mitsubishi Corp and Nippon Yusen Kabushiki Kaisha (NYK). The non-binding memorandum of understanding was inked last Tuesday (May 9).
Gas4Sea, it said, is a partnership created to jointly promote LNG as the cleaner maritime fuel by providing LNG bunkering services in the global market.
“Under the terms of the MoU, the parties will explore ways to collaborate and identify potential business opportunities in relation to LNG bunkering,” the statement read.
The MoU was signed by PLL chief marketing officer and chief executive officer Ezhar Yazid Jaafar, and MISC vice president of LNG business unit Faizul Ismail.
Gas4Sea partners were represented by Mitsubishi general manager of LNG bunkering business office Yuji Toshima, ENGIE senior vice president of business development Asia Denis Bonhomme, and NYK manager of fuel project team Takahiro Nito.
Ezhar said the collaboration is expected to enhance Petronas’ strong presence in the integrated LNG value chain and diversified LNG market portfolio.
“Petronas is looking at ways to further promote the consumption of LNG beyond the existing markets portfolios, and advocating LNG as marine fuel is a new frontier for the LNG sector,” said Ezhar.
“In addition, this collaboration will also support the usage of LNG as a fuel of choice for maritime activities, which is in line with Petronas’ effort in helping the industry reduce its carbon footprint,” he added.
According to Petronas, Gas4Sea partners are major players in the energy and global shipping industries. “With their world’s first purpose built LNG bunkering vessel based in the port of Zeebrugge in Belgium, they are equipped with a key piece of the LNG bunkering value chain to extend the reach of LNG to fuel the marine transportation sector.”
Petronas, meanwhile, noted it has diversified its LNG supply portfolio in recent years with the addition of Australia Gladstone LNG and Petronas’s first floating LNG facility in offshore Sarawak.
SOURCE: THE EDGE MARKETS

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