Kuala lumpur: Petroliam Nasional Bhd (Petronas) is accelerating its transformation under Petronas 2.0, reshaping itself for the next decade and beyond. By 2035, at 60 years strong, Petronas aims to be an integrated energy company serving the world’s energy and solutions needs and delivering them safely, reliably, and sustainably. At the core of this journey is natural gas — a reliable, flexible, and lower-carbon fuel that drives Asia’s economic growth and supports the region’s decarbonisation efforts.
According to BERNAMA News Agency, with over four decades of experience and innovation in liquefied natural gas (LNG), Petronas is strengthening its position as a trusted, long-term partner to customers across Asia through an expanding global portfolio. Anchored in Malaysia, Petronas remains the backbone of supply, primarily through the Bintulu LNG complex in Sarawak, which has delivered over 16,000 cargoes to more than 25 countries. Beyond this, Petronas has pioneered the world’s first floating LNG (PFLNG) facilities, beginning operations with PFLNG Satu in 2016 and PFLNG Dua in 2021, with a third facility planned for Sipitang, Sabah by 2027.
The company is also expanding its international presence with LNG Canada in British Columbia. Strategically located on the Pacific Coast, the project provides a direct shipping route to North Asia, reducing sailing times and transportation costs while mitigating global supply chain risks. LNG Canada’s Phase 1 equity capacity stands at 3.3 million tonnes per year, with potential to double in Phase 2, representing a significant new supply base for Petronas.
Petronas supplies about 10 per cent of the world’s LNG and plays a crucial role in Malaysia’s economy, with LNG exports contributing about five per cent of the country’s total exports. The sector generates jobs and economic spillovers across the country, from offshore exploration to onshore processing and shipping services.
Concurrently, Petronas is balancing exports with Malaysia’s domestic energy needs, particularly in Peninsular Malaysia, where demand is increasing due to economic growth and the national policy to phase out coal-fired power generation. Offshore gas supply currently stands at about two billion standard cubic feet per day, supplemented by LNG imports managed via regasification terminals in Johor and Melaka.
Petronas is committed to decarbonising its gas value chain as part of its Net Zero Carbon Emissions 2050 pathway. This includes eliminating routine flaring, enhancing energy efficiency, and electrifying its operations with renewable energy. The company is also advancing carbon capture and storage projects and strengthening methane management.
As part of its energy transition strategy, Petronas is positioning itself as a regional leader in Asia’s energy transformation, leveraging the advantages of natural gas to build a resilient energy infrastructure. This evolution includes delivering a full spectrum of solutions from LNG and renewables to future fuels like hydrogen, supported by decades of operational excellence.