Malaysian energy giant Petronas, through its subsidiary Petronas LNG Ltd. (PLL) and its shipping affiliate, MISC Berhad (MISC) inked a non-binding Memorandum of Understanding (MoU) on 9 May 2017 with Gas4Sea partners to explore potential collaboration in promoting LNG as the preferred marine fuel.
Gas4Sea, a partnership created to jointly promote LNG as the cleaner maritime fuel, by providing LNG bunkering services in the global market, comprises ENGIE S.A. (ENGIE), Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK).
Under the terms of the MoU, the parties will explore ways to collaborate and identify potential business opportunities in relation to LNG bunkering.
PLL Chief Marketing Officer & Chief Executive Officer, Ezhar Yazid Jaafar, said the collaboration is expected to enhance Petronas’s strong presence in the integrated LNG value chain and diversified LNG market portfolio. “Petronas is looking at ways to further promote the consumption of LNG beyond the existing markets portfolios, and advocating LNG as marine fuel is a new frontier for the LNG sector,” said Ezhar.
Gas4Sea partners are major players in the energy and global shipping industries. With their world-first purpose built LNG bunkering vessel based in the port of Zeebrugge, they are equipped with a key piece of the LNG bunkering value chain to extend the reach of LNG to fuel the marine transportation sector.
“In addition, this collaboration will also support the usage of LNG as a fuel of choice for maritime activities, which is in line with Petronas’s effort in helping the industry reduce its carbon footprint,” continued Ezhar.
(Source: Petroliam Nasional Berhad (Petronas))