Petronas Ships Its First LNG Cargo to S-OIL
- Business & Finance
Malaysian oil company Petronas has shipped its first LNG cargo on board a 137,100 cbm LNG carrier to South Korea’s S-OIL Corporation.
The company, through its subsidiary, Petronas LNG (PLL) delivered the cargo from Petronas LNG Complex in Bintulu, Sarawak, to POSCO Gwangyang Terminal on April 22, 2018.
The cargo was carried aboard Puteri Zamrud Satu, the 2004-built vessel chartered by MLNG and operated by Petronas’ subsidiary MISC Berhad (MISC).
As informed, the delivery marks the beginning of PLL’s supply to S-OIL via a 15-year sale and purchase agreement (SPA). Under the agreement, PLL is to deliver up to 0.7 million tons per annum (MTPA) of LNG to S-OIL.
Petronas operates from its main supply base in Bintulu, Sarawak. In addition, the company has diversified its LNG supply portfolio with the inclusion of Australia’s Gladstone LNG and the world’s first floating LNG facility located offshore Sarawak.