Latest news with #ShamsairiMIbrahim
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
Petronas, SMJ Energy partner on Sabah LNG facility
Petroliam Nasional Berhad (PETRONAS), through its subsidiary PETRONAS LNG Sdn. Bhd. (PLSB), signed a Heads of Agreement (HoA) with SMJ Energy Sdn. Bhd (SMJ Energy) to formalise the terms for a 25% equity participation of SMJ Energy in PFLNG 3 Sdn. Bhd. Petronas, through its unit Petronas LNG Sdn Bhd, signed a Heads of Agreement with SMJ Energy for a 25 per cent equity stake in PFLNG 3 Sdn Bhd, the company developing a shore-based floating LNG facility at Sabah's Sipitang Oil & Gas Industrial Park. The deal strengthens Petronas' partnership with the Sabah government. Definitive agreements will follow the HoA. This marks a significant step forward in strengthening PETRONAS' long-standing partnership with the Sabah State Government and the responsible development of resources in the state. The agreement was signed by SMJ Energy CEO Datuk Dr. Dionysia Aloysius Kibat and PLSB CEO Shamsairi M Ibrahim, in the presence of Sabah Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik. PFLNG 3 Sdn. Bhd. is the project company developing the upcoming shore-based floating liquefied natural gas (LNG) facility, which will be located in Sipitang Oil & Gas Industrial Park (SOGIP), Sabah. The proposed equity acquisition will be implemented via definitive agreements to be finalised following the HoA. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
New Straits Times
04-07-2025
- Business
- New Straits Times
Petronas signs 20-year LNG supply deal with Venture Global
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd, has signed a 20-year sale and purchase agreement with US-based Venture Global Inc for the supply of 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG). According to Petronas, the LNG will be sourced from CP2 LNG Phase 1, Venture Global's 14.4 MTPA facility currently under development in Cameron Parish, Louisiana. It said this long-term LNG agreement further reinforces Petronas' global LNG portfolio and underscores its commitment to delivering a reliable energy supply to meet growing global demand. "The collaboration with Venture Global is expected to provide Petronas with greater supply agility and flexibility, strengthening our ability to serve evolving market needs across key regions," Petronas said in a statement. Meanwhile, Petronas LNG Marketing and Trading vice-president Shamsairi M Ibrahim said that as energy demand rises and the global LNG landscape evolves, its priority is to provide customers with a reliable supply and long-term value. "This agreement reflects our ongoing efforts to enhance supply accessibility through strategic industry collaboration, enabling us to respond to dynamic market conditions with greater agility," he said.
Associated Press
17-06-2025
- Business
- Associated Press
Commonwealth LNG Confirms 20-Year Sale and Purchase Agreement with PETRONAS
HOUSTON, June 17, 2025 /PRNewswire/ -- Commonwealth LNG ('Commonwealth') today identified PETRONAS LNG Ltd. ('PETRONAS'), a subsidiary of Malaysia's national oil and gas company, as the major Asian energy company referenced in the company's May 5 announcement of a buyer to purchase 1 million tonnes per annum (MTPA) of LNG for 20 years from Commonwealth's 9.5 MTPA facility under development in Cameron, Louisiana. Commonwealth LNG currently has 4 MTPA of offtake under long-term agreement, with line of sight toward finalizing its commercial book ahead of a targeted final investment decision in Q3 2025 and anticipated first LNG production in 2029. 'We are excited to collaborate with PETRONAS, a trusted LNG supplier with decades of expertise,' said Commonwealth President and CEO Farhad Ahrabi. 'We value this partnership and the endorsement of our team by this recognized industry leader.' Meanwhile, Shamsairi M Ibrahim, Vice President of LNG Marketing and Trading at PETRONAS, shared, 'This agreement underscores PETRONAS' commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for our customers. Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market.' Commonwealth's phase 1 development is expected to bring an investment of more than $11 billion to Louisiana and generate an estimated $3.5 billion in annual export revenue. The project is expected to employ approximately 2,000 workers at the peak of construction and provide approximately 275 high-paying jobs when the facility begins operations in late 2029. Commonwealth is owned by Kimmeridge SoTex Holdco LLC ('SoTex'), which was founded by Kimmeridge, an asset manager focused on the energy sector. Through SoTex, which also holds an upstream natural gas development company called Kimmeridge Texas Gas, Kimmeridge is building America's first integrated gas independent to deliver low-cost natural gas from wellhead-to-water and meet burgeoning demand for responsibly produced LNG across global markets. The SPA will become fully effective upon the satisfaction of customary conditions, including an affirmative final investment decision on the Project. About Commonwealth LNG Commonwealth LNG is a 9.5 MTPA liquefied natural gas (LNG) export terminal project located on the Calcasieu River on the Gulf Coast near Cameron, Louisiana. The project's leadership team is committed to building a world-class LNG facility by staying relentlessly focused on managing risk and lowering cost. Website: LinkedIn: About PETRONAS PETRONAS is a global energy group with operations in over 100 countries. Through its integrated LNG value chain and strong sustainability focus, PETRONAS delivers reliable energy solutions to meet rising global demand. About Kimmeridge Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research and data gathering. Media Inquiries: Commonwealth LNG Lyle Hanna VP, Corporate Communications 281-794-9606 [email protected] Kimmeridge Daniel Yunger / Hallie Wolff / Emma Cloyd [email protected] 917.574.8582 / 917.842.1127 View original content to download multimedia: SOURCE Commonwealth LNG
The Sun
17-06-2025
- Business
- The Sun
Petronas, Commonwealth LNG ink 20-year sustainable LNG deal
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd, has entered into a liquefied natural gas (LNG) sale and purchase agreement with Commonwealth LNG, LLC, to diversify its LNG portfolio through long-term supply from the United States. Petronas announced in a statement that it has agreed to purchase one million tonnes per annum (mtpa) of LNG from Commonwealth LNG for a duration of 20 years. This will come from Commonwealth LNG's facility in Cameron, Louisiana, which is currently under development and has a capacity of 9.5 mtpa. Petronas LNG Marketing and Trading vice president Shamsairi M Ibrahim said the agreement underscores its commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for its customers. 'Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market,' he said. Commonwealth LNG president and chief executive officer Farhad Ahrabi said the company has been invited to help extend Petronas' successful history of more than a century in serving global energy needs. According to the statement, this collaboration marks a significant step towards a shared ambition to deliver sustainable energy solutions, advancing strategic energy collaboration, contributing to regional energy security, and reinforcing Commonwealth LNG's role as a reliable player in the global LNG landscape. The signing was commemorated in a document exchange ceremony between Petronas LNG chief executive officer, Ezran Mahadzir, and Farhad on the sidelines of Energy Asia 2025. Hosted by Petronas, the Energy Asia conference runs from June 16 to 18 at the Kuala Lumpur Convention Centre.
The Sun
17-06-2025
- Business
- The Sun
Petronas signs 20-year US LNG Deal with Commonwealth LNG
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd, has entered into a liquefied natural gas (LNG) sale and purchase agreement with Commonwealth LNG, LLC, to diversify its LNG portfolio through long-term supply from the United States. Petronas announced in a statement that it has agreed to purchase one million tonnes per annum (mtpa) of LNG from Commonwealth LNG for a duration of 20 years. This will come from Commonwealth LNG's facility in Cameron, Louisiana, which is currently under development and has a capacity of 9.5 mtpa. Petronas LNG Marketing and Trading vice president Shamsairi M Ibrahim said the agreement underscores its commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for its customers. 'Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market,' he said. Commonwealth LNG president and chief executive officer Farhad Ahrabi said the company has been invited to help extend Petronas' successful history of more than a century in serving global energy needs. According to the statement, this collaboration marks a significant step towards a shared ambition to deliver sustainable energy solutions, advancing strategic energy collaboration, contributing to regional energy security, and reinforcing Commonwealth LNG's role as a reliable player in the global LNG landscape. The signing was commemorated in a document exchange ceremony between Petronas LNG chief executive officer, Ezran Mahadzir, and Farhad on the sidelines of Energy Asia 2025. Hosted by Petronas, the Energy Asia conference runs from June 16 to 18 at the Kuala Lumpur Convention Centre.
