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5 May, 2006 1:52 PM
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Newsletter
No. 254
April 28, 2006
MALAYSIA’S PETRONAS MAKING LNG DEALS WITH JAPAN This month, the leading LNG company of Malaysia, Petronas, has made two large LNG deals with Japanese companies. The first deal, announced on April 7th, was with the Osaka Gas Co., and involved a statement of intention to supply up to 920,000 tons of LNG annually for fifteen years, starting in April 2009. The exact financial terms of the deal were not released. Petronas and Osaka Gas have had a business relationship since 1994, and Osaka Gas already has other Malaysian suppliers from past agreements. This deal will significantly increase that volume to a combined 1.6 million tons annually. This LNG will be shipped from Bintulu in Sarawak to Osaka Gas facilities at Senboku and Himeji. The second deal was between Petronas and Chubu Electric Power Company -- which is Japan’s third largest. This deal involves 540,000 tons of LNG to be shipped annually for twenty years beginning in 2011. Again, the LNG will come from Bintulu, but will be shipped in this case to Chita, Yokkaichi, and Kawagoe. Again, the financial terms were not released. This is not the first business deal between Petronas and Chubu Electric, as they have had some relations since June 1991, but this is the first long-term contract between the two companies. It should be noted that the LNG deal mentioned in Shingetsu Newsletter No. 184 between Shikoku Electric and Malaysia LNG is also related to this development. “Malaysia LNG” is part of the Petronas group.
Related Links: Petronas
Corporation Osaka
Gas Company Chubu
Electric Power Company
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