PETRONAS concludes a Sale and Purchase Agreement with Tiger Clean Energy
PETRONAS through its subsidiary, PETRONAS LNG Ltd. (PLL), recently concluded a Sale and Purchase Agreement (SPA) with Tiger Clean Energy Limited (TCEL) for the supply of liquefied natural gas (LNG) to TCEL’s LNG ISO Tank Filling Facility located at Bintulu, Sarawak. As part of the agreement, delivery of the LNG to China will be undertaken by TCEL, which will then be distributed to remote locations using TCEL’s ISO tanks.
This term sale which facilitates the delivery of LNG via LNG ISO tanks is a customer-centric and pragmatic solution undertaken by PETRONAS that supports and enables greater accessibility to cleaner energy, particularly for remote customers located away from physical LNG pipelines and customers with smaller parcel requirements. Furthermore, delivery of LNG via ISO tanks can also act as an agile back-up solution to meet excess demand with pace as compared to large vessel deliveries which may be restricted by rigid delivery schedules.
Due to the ongoing COVID-19 outbreak followed by movement restriction controls implemented globally, the signing of the SPA was conducted through a video tele-conference, which is the first LNG deal of its kind concluded and commemorated on the virtual sphere for PETRONAS. The e-commemoration ceremony was witnessed by PETRONAS Vice President of LNG Marketing and Trading, Ahmad Adly Alias.
Source / More information : PETRONAS
Report by: OGP/Segun Cole , Please email us your industry related news for publication [email protected]
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