Kuala lumpur: Petroliam Nasional Bhd (Petronas) is intensifying its efforts to broaden its footprint in Canada, which has emerged as a crucial supplier of liquefied natural gas (LNG) for the company, according to executive vice president and chief executive officer of upstream business Mohd Jukris Abdul Wahab.
According to BERNAMA News Agency, Petronas possesses approximately 50 trillion cubic feet (TCF) of gas reserves in Canada. The current LNG Canada project is only in its initial phase, prompting the energy giant to initiate a series of LNG projects supported by this extensive resource base. Mohd Jukris emphasized that the resource size is not a limiting factor, stating, “With 50 TCF, we can support several more LNG projects.”
Mohd Jukris also expressed optimism regarding collaboration with the Canadian government for the development of additional LNG projects. He reiterated the company’s commitment to expanding its operations in Canada, recognizing the nation as a significant future LNG supply hub.
Th
e company achieved a significant milestone by shipping its first LNG cargo from the LNG Canada facility located in Kitimat, British Columbia, on July 8. Petronas plays a pivotal role in the North Montney Joint Venture upstream gas project and holds a major equity stake in LNG Canada, a US$40 billion facility.
Discussing its global operations, Mohd Jukris highlighted Petronas’s strengthened presence in countries such as Brunei, Indonesia, Vietnam, Turkmenistan, Abu Dhabi, Canada, and Suriname. He noted that Petronas is experiencing growth in several of these regions, with some being identified as strategic heartlands for the company. In Suriname, Petronas is preparing to develop its first optical gas discoveries while continuing exploration efforts.
Petronas aims to enhance its international business, striving for international assets to contribute over 60 percent of its revenue, a significant increase from the current 40 percent. Despite this international focus, Mohd Jukris assured that investment in Malay
sia remains a core component of the company’s portfolio.