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Petronas calls for progressive partnerships to foster sustainable LNG market

KUALA  LUMPUR, Sept 28 -- Petronas is calling for progressive partnerships by industry players in aligning to advocate Liquefied Natural Gas (LNG)  as the preferred clean source of energy in the long-term.

President and Group Chief Executive Officer, Tan Sri Wan Zulkiflee Wan Ariffin said it is now more critical for industry players to come together in managing the challenges posed by changing market dynamics, customer behaviour and increasing regulatory and policy commitments, including technology and innovation, which could disrupt the growth of the LNG market.

“As an abundant and environment-friendly fuel, LNG is well-positioned to play an important role to meet the global aspiration for secure, affordable and sustainable energy.

“While the growth story for LNG has a tremendous upside, the industry must be cautious. The success of our industry depends on the concerted and concrete actions by all stakeholders,” he said in a statement today.

Speaking at the recent LNG Producer-Consumer Conference 2019 in Tokyo, Japan, Wan Zulkiflee emphasised the importance of advocating LNG and creating new demand.

“As each demand centre, particularly emerging markets, has its own unique criteria, industry players should collaborate with all stakeholders in developing fit-for-purpose solutions, reflecting a shared responsibility in making LNG more available and accessible,” he said.

He also highlighted that partnerships across the value chain have opened up new collaboration opportunities, as well as increased interaction amongst all stakeholders.

Given the long term nature of the LNG industry, increased interactions amongst stakeholders will facilitate the harmonisation of standards and guidelines such as port protocols and the safety regulations for LNG bunkering.

Wan Zulkiflee said Petronas, being a long term player, is fully invested to unlock the potential of LNG in ensuring a cleaner environment for future generations.

With over 30 years of experience and more than 10,000 cargoes safely delivered globally, Petronas is positioned to provide distinctive and innovative solutions through its creative LNG solutions and trading capabilities such as break-bulking ship-to-ship transfer, LNG bunkering and Virtual Pipeline Systems via Isotanks to transport LNG.

-- BERNAMA

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