PETRONAS, ENEOS Reaffirm LNG Partnership for Energy Security

PETRONAS and ENEOS Xplora have strengthened their long-standing partnership through definitive agreements formalising ENEOS’ re-entry into Malaysia LNG Tiga Sdn. Bhd. (MLNG Tiga). Under the agreement, ENEOS will hold a 10 percent equity stake in MLNG Tiga for the next decade, following the expiry of the previous joint venture in 2023.

The signing ceremony was attended by PETRONAS Executive Vice President Datuk Adif Zulkifli and ENEOS President Yasuhiko Oshida, alongside senior representatives from both companies. The collaboration underscores shared commitment to long-term energy security and reliable LNG supply to international markets, particularly Japan, amid global volatility.

ENEOS

PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik highlighted LNG’s indispensable role in bridging current energy demands while supporting the transition toward lower-carbon futures. He noted Asia’s growing LNG demand makes stable supply and enduring partnerships critical for resilience.

ENEOS’ re-entry reflects confidence in MLNG Tiga’s operational resilience and PETRONAS’ proven capabilities as a trusted LNG operator. Oshida emphasized cooperation with PETRONAS, Sarawak State Government, and Mitsubishi Corporation to pursue new value creation during the energy transition.

The agreement reinforces Malaysia’s investment appeal, supported by strong fundamentals and a stable regulatory framework, attracting long-term foreign investment in the energy sector.

#businessnews