This article first appeared in The Edge Financial Daily on April 25, 2018

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has successfully delivered its first liquefied natural gas (LNG) to South Korean Oil Refining Co (S-Oil), marking the beginning of the national oil company’s subsidiary Petronas LNG Ltd’s (PLL) supply to S-Oil via a 15-year sale and purchase agreement.

Under the deal, PLL is committed to delivering up to 0.7 million tonnes per annum of LNG to the Korean firm.

The cargo was delivered from Petronas LNG Complex in Bintulu, Sarawak to Posco Gwangyang Terminal in South Korea by Puteri Zamrud Satu, the LNG vessel chartered by Petronas’ subsidiary Malaysia LNG Sdn Bhd and operated by another of Petronas’ unit MISC Bhd.

“As an integrated global oil and gas player, Petronas remains committed to becoming the most reliable LNG supplier, through innovative and flexible solutions to accommodate the different needs of our buyers,” said Petronas vice-president of LNG marketing and trading Ahmad Adly Alias in a statement yesterday.