Malaysian state-owned energy firm Petroliam Nasional (IPO-PETO.KL), said on Wednesday it would supply Chinese offshore oil and gas company CNOOC (600938.SS), with 1 million metric tons per annum of liquefied natural gas (LNG).
The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a statement.
In 2021, Petronas signed a 10-year LNG supply agreement with a subsidiary of CNOOC valued at about $7 billion.
Both CNOOC and Petronas did not immediately respond to Reuters’ requests seeking details including the deal tenure.
Petronas signed a similar deal in November with Canadian oil and gas company Pembina Pipeline (PPL.TO), to supply 1 million tons per annum of LNG for 20 years from its Cedar LNG project.