Malaysia’s Petronas signs LNG supply deal with China’s CNOOC

The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a statement.

In 2021, Petronas signed a 10-year LNG supply agreement with a subsidiary of CNOOC valued at about $7 billion.

Both CNOOC and Petronas did not immediately respond to Reuters’ requests seeking details including the deal tenure.

Petronas signed a similar deal in November with Canadian oil and gas company Pembina Pipeline to supply 1 million tons per annum of LNG for 20 years from its Cedar LNG project.

(Reporting by Sneha Kumar in Bengaluru; Editing by Subhranshu Sahu)