Friday, April 19, 2024
HomeLNGCzech Ministry of Industry and Trade discusses potential LNG supplies with Malaysia's...

Czech Ministry of Industry and Trade discusses potential LNG supplies with Malaysia’s PETRONAS

The Czech Minister of Industry and Trade, Jozef Síkela discussed possible supplies of liquified natural gas (LNG) with Malaysia’s biggest energy company, PETRONAS.

“PETRONAS is currently developing projects all over the world and some of them could help, in the medium term, to further diversify resources and strengthen the energy security of our country and the whole of Europe,” said Minister Síkela during a visit to Vietnam and Malaysia, the two most important business partners of the Czech Republic in Southeast Asia.

On this occasion, Minister Síkela expressed also its support for the European Commission’s efforts to establish cooperation with countries of the Indo-Pacific region regarding possible LNG and hydrogen supplies, as well as the new technologies these sectors offer.

Indeed, according to Fitch Solutions Country Risk & Industry Research, Malaysia’s LNG production is set to rise due to a combination of LNG production capacity additions and a potential increase in LNG production from the Bintulu plant. In particular, Floating LNG projects are literally changing Malaysia’s LNG landscape because they are considered to be less capital-intensive and flexible. The state-owned Petronas and Sabah Oil & Gas Development Corporation are going ahead with the third 2 million tonnes per annum (mtpa) near-shore Floating LNG project dubbed as ZLNG in Sabah state as they announced the final investment decision in December 2022. This project is slated to come online by mid-2027 and will raise Malaysia’s total LNG production capacity from 32 mtpa in 2022 to 34 mtpa in 2027.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular