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Petronas Unit Enters 20-Year LNG Supply Contract with Tokyo Electric-Chubu Electric JV

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Petroliam Nasional, or Petronas, unit Petronas LNG agreed to supply up to 2 million tons per annum of LNG to Japan's Jera, according to a company release on Wednesday.

The contract will run for 20 years beginning in 2028.

The company will deliver the LNG using its new generation of 174,000-cubic-meter LNG carriers.

The LNG market is being influenced by high demand, supply disruption, price volatility, and security issues.

"PETRONAS remains focused on delivering reliable and tailored solutions, supporting our partners in strengthening energy security while advancing their transition ambition," PETRONAS Executive Vice President and CEO of Gas and Maritime Business, Datuk Adif Zulkifli, said.

Jera is a joint venture of Tokyo Electric Power Company (TYO:9501) and Chubu Electric Power (TYO:9502).

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