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Malaysian oil and gas firm Petroliam Nasional Berhad (Petronas) has signed a deal to supply liquefied natural gas (LNG) to an ISO tank-filling facility owned by Shanghai-based Tiger Clean Energy in the eastern state of Sarawak, Malaysia.
Reuters reported that the sales and purchase agreement (SPA) enables the Chinese firm to distribute LNG to remote locations in China using ISO tanks.
Petronas noted that the deal was struck via video teleconference due to the Covid-19 pandemic. The deal is the first-of-its-kind to be concluded virtually.
Petronas LNG Marketing and Trading division vice-president Ahmad Adly Alias was quoted by Reuters as saying: “Through this approach, we established a virtual pipeline that effectively enables LNG to reach off-grid customers who are not directly served by the natural gas distribution system in China.”
Petronas did not disclose volumes and prices of the cargoes sold.
ISO tank containers are the ones that meet specifications set by the International Organisation for Standardisation (ISO), according to Reuters.
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By GlobalDataThese tankers offer faster access to the cleaner super-chilled fuel for customers in locations who are far from main pipelines and are in need of smaller volumes.
In March this year, a fire and explosion at an oil refining complex owned by Petronas and Saudi Aramco in Malaysia’s southern state of Johor killed five people and injured one.
This February, Petroleum Sarawak (Petros) signed a domestic gas agreement with Petronas. The deal saw Petros take over Petronas’ supply, sales and distribution of natural gas within the state of Sarawak.