Petronas CEO: Company is planning to import LNG within 4-5 years

The chief executive of Malaysian state-owned energy company Petroliam Nasional said that the firm is preparing to face a scenario where the country, which is currently a major LNG exporter in the world, begins to import super-chilled fuel.

Tengku Muhammad Taufik, the Chief Executive of Petronas, said that they plan to import LNG within four to five year. He made this statement at a conference press briefing.

The domestic gas demand in Southeast Asia is expected to rise.

Tengku Taufik said that Petronas was also working on getting a third regasification facility up and running in Malaysia. He did not say when this would happen.

Kpler data shows that the Southeast Asian nation will be the fifth largest LNG exporter worldwide in 2024. It exported nearly 28 million tons of fuel last year.

This volume was shipped to Japan in the amount of 10.8 million tonnes, and China and South Korea each took approximately 7 million tons.

(source: Reuters)