Malaysian energy giant Petroliam Nasional Berhad (Petronas) strengthened its place in the Chinese LNG market via a contract extension with China’s private energy company JOVO Group, Petronas reported on Thursday.
The contract was inked by Ahmad Adly Alias, vice president of LNG Marketing & Trading, Upstream Petronas, and Zhang Jiangguo, president and CEO of JOVO Group.
“Petronas is dedicated to ensuring that our buyers’ requirements for stable and competitively-priced LNG supply are met. The extension of this contract proves that Petronas appreciates the Chinese culture of working together and understands what it takes for Chinese LNG buyers to grow and succeed in this market. We were here from JOVO’s infancy in the LNG market, and we will be here to support them to grow further,” Adly said.
The new contract will ensure a stable increase of LNG supplies from Petronas to JOVO Group until at least 2023.
China’s JOVO Group owns and operates the Dongguan LNG terminal located in Guangdong in South China. It is the first private Chinese energy company to import LNG to China. JOVO received its first imported LNG from Petronas in 2013.
Source Anadolu Agency