How long is the new LNG supply deal between Petronas and Shizuoka Gas?

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The New LNG Supply Deal Between Petronas and Shizuoka Gas Is for Seven Years

Petronas LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd, has entered into a new liquefied natural gas (LNG) sale and purchase agreement with Shizuoka Gas Co Ltd. This agreement is set to span a duration of seven years, commencing from 2032. The deal aims to provide Shizuoka Gas with enhanced supply flexibility and reliability to meet its evolving energy demands in response to shifting market conditions.
Agreement Details and Duration

The newly established sale and purchase agreement between Petronas LNG Ltd and Shizuoka Gas Co Ltd is defined by a term of seven years. Deliveries under this contract are scheduled to begin in 2032 and will continue for the entirety of the seven-year period. This contractual framework is designed to secure a consistent supply of LNG for Shizuoka Gas.
Scope of Supply and Flexibility

Under the terms of the seven-year agreement, Petronas is committed to supplying approximately 0.84 million tonnes of LNG. This supply arrangement is intended to offer greater flexibility and reliability, thereby supporting Shizuoka Gas's specific energy requirements. The provision is particularly relevant given the dynamic nature of current energy markets.
Anniversary and Partnership Evolution

The signing ceremony for this new agreement also served to commemorate a significant milestone: the 30th anniversary of the first LNG cargo delivered by Petronas to Shizuoka Gas. This long-standing relationship, now extended by the seven-year deal, reflects a history of mutual trust and shared growth. Both entities are exploring opportunities to deepen their collaboration beyond conventional buyer-seller dynamics, focusing on decarbonisation efforts within the LNG value chain.

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How long is the new LNG supply deal between Petronas and Shizuoka Gas?

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