By DayakDaily Team
KUCHING, Sept 27: Petroliam Nasional Berhad (PETRONAS) and Mitsubishi Corporation have reinforced their 46-year partnership with the signing of new agreements, further solidifying the trust in PETRONAS’ capabilities to deliver Liquefied Natural Gas (LNG) from Bintulu to international markets, with a primary focus on Japan.
According to a media release today, these agreements extend Mitsubishi Corporation’s ten per cent equity shareholding in Malaysia LNG (MLNG) Dua and reinvest ten per cent equity in MLNG Tiga for the next decade.
This move signified Mitsubishi Corporation’s continued participation in both ventures, as well as its role in LNG marketing and deliveries from Bintulu to Japan.
This strategic partnership highlights Malaysia’s robust economic landscape, particularly in Sarawak, as an attractive destination for foreign direct investment.
The agreements were signed during a recent ceremony held in Kuala Lumpur by PETRONAS president and Group chief executive officer (CEO) Tan Sri Tengku Muhammad Taufik and Mitsubishi Corporation president and CEO Katsuya Nakanishi.
Additionally, the collaboration reaffirmed both parties’ commitment to energy security and their shared ambition for a lower-carbon future.
Tengku Taufik emphasised that together with Mitsubishi Corporation and the support of the Sarawak government, PETRONAS remains fully committed to ensuring the safe and reliable supply of LNG to fuel the economies of Malaysia, Japan and customers around the globe towards a sustainable, lower-carbon future.
“PETRONAS is honoured to mark a new chapter in our long-standing relationship with Mitsubishi Corporation. With our strengthened synergy, we look forward to the continued successes of MLNG Dua and MLNG Tiga, which have proven mutually beneficial for over 45 years,” he said.
Katsuya Nakanishi expressed optimism about unlocking further value through their collaboration with PETRONAS as well as with the Sarawak government, noting that the company have achieved many historical milestones in Malaysia.
“We look forward to providing continuous support in growing and nurturing access to the global LNG market for PETRONAS’ future volumes, with LNG being the fuel of choice in the age of energy transition,” he added.
Since 1983, the PETRONAS LNG Complex, in collaboration with Mitsubishi Corporation, has been supplying LNG to long-term Japanese buyers.
The complex comprises four joint ventures—MLNG, MLNG Dua, MLNG Tiga, and PETRONAS LNG 9—with a combined production capacity of 29.3 million tonnes per annum (MTPA), making it one of the world’s largest LNG facilities in a single location.
The PETRONAS LNG Complex remains a key supplier of lower-carbon energy solutions to a diverse range of public and private sector customers in Japan.
Beyond LNG, Mitsubishi Corporation has invested in 10 gas upstream blocks in Sarawak and has expanded its presence in Malaysia across multiple sectors, including automobiles, food, petrochemicals, metals, and steel. The company’s total investment in Malaysia reached approximately RM5 billion last year. — DayakDaily
