Malaysian energy company PETRONAS has signed a long-term liquefied natural gas (LNG) Sale and Purchase Agreement with CNOOC Gas and Power Singapore Trading & Marketing, a subsidiary of China National Offshore Oil Company (CNOOC), to supply 1.0 million tons per annum (mtp/a) of LNG.

The agreement builds on the long-standing partnership between the two companies and aims to strengthen LNG supply cooperation while supporting China’s economic growth and clean energy transition. The deal aligns with China’s “Dual Carbon” goals, which aim to peak carbon emissions before 2030 and achieve carbon neutrality by 2060.

Shamsairi M Ibrahim, Vice President of PETRONAS LNG Marketing and Trading, said the agreement represents a step forward in the relationship between PETRONAS and CNOOC, highlighting a shared commitment to energy security and a lower-carbon future. He noted that the partnership extends beyond LNG supply to long-term collaboration in support of energy transition objectives.

The agreement further reinforces PETRONAS’ role as a key LNG supplier to China and underscores continued cooperation with CNOOC in one of Asia’s fastest-growing gas markets. As regional demand for lower-carbon fuels continues to rise, PETRONAS said it remains committed to supplying reliable LNG from its portfolio to meet customers’ evolving energy needs across Asia.
PETRONAS and CNOOC already had a 10-year LNG supply agreement from since 2021 under which PETRONAS agreed to supply around 2.2 mtp/a of LNG to the Chinese company