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Malaysia's Petronas to trade some Canadian, US LNG in spot market

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SEOUL : Malaysia's state energy firm Petronas plans to reserve some liquefied natural gas (LNG) from its share of a joint venture in Canada to trade in the spot market, a senior executive said.Shamsairi M Ibrahim, vice president of LNG marketing and trading at Petronas, also said Petronas aimed to sell so

SEOUL : Malaysia's state energy firm Petronas plans to reserve some liquefied natural gas from its share of a joint venture in Canada to trade in the spot market, a senior executive said.

Petronas has committed about 80 per cent of its 25 per cent equity share from the 14 million tonnes per annum LNG Canada project in Kitimat, British Columbia, that is led by Shell to long-term contracts with customers, Shamsairi told Reuters. "We looked at the forward curve and we would like to continue to be active members in the gas space," he said.

Petronas recently signed a contract to lift 1 mtpa of LNG from Venture Global's Plaquemines LNG project in the United States for 20 years, diversifying its portfolio.

 

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