Petronas Unit Signs HoA With Japan's Hokuriku Electric To Renew LNG Supply Deal
KUALA LUMPUR, July 29 (Bernama) -- Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd (PLL), has signed a heads of agreement (HoA) with Japan's Hokuriku Electric Power Company to negotiate and conclude the renewal of a long-term liquefied natural gas (LNG) supply agreement.
In a statement today, Petronas said that under the proposed agreement, PLL is expected to continue supplying up to 0.54 million tonnes per annum (MTPA) of LNG to Hokuriku Electric for a 10-year period from 2028.
“The HoA marks another milestone in the longstanding partnership between Petronas and Hokuriku Electric.
“It reflects the mutual confidence built over the years and underscores the continued trust, reliability and strategic importance of the Petronas-Hokuriku Electric relationship,” it said.
PLL chief executive officer (CEO) Rosdi Ab Rahman and Hokuriku Electric president Koji Matsuda signed the HoA in Kuala Lumpur on July 14, 2026.
On the same day, the two parties also signed a memorandum of understanding (MoU) to explore strategic collaboration on carbon-neutral initiatives, Petronas said.
“The MoU reflects both parties' shared ambition to build a more resilient LNG supply chain, explore next-generation fuels including hydrogen and ammonia, renewable energy, and decarbonisation technologies such as carbon capture and storage (CCS), and carbon capture utilisation and storage (CCUS),” it added.
Petronas executive vice president and CEO of gas and maritime business Datuk Adif Zulkifli said Petronas remains committed to continuing LNG supply to Hokuriku Electric in support of the Japanese utility's energy security, operational resilience and energy transition.
“Beyond LNG, the MoU on carbon-neutral collaboration underscores our shared ambition to explore new opportunities that can create long-term value for both parties,” he said.
Petronas also noted that PLL has been Hokuriku Electric's sole LNG supplier since the existing LNG sale and purchase agreement commenced in 2018, supplying LNG for the utility's LNG-fired power generation facilities at the Toyama-Shinko Thermal Power Station.
“The HoA is intended to support the continuity of supply beyond the current contract period and further strengthens Petronas’ position as a trusted long-term LNG partner to Japanese buyers,” it added.
-- BERNAMA