KUALA LUMPUR: Petronas, with its growing portfolio of liquefied natural gas (LNG) supply sources in Malaysia, Australia, Egypt and soon in Canada, says it is well-positioned to provide clean energy through its flexible and innovative LNG solutions to existing and new demand markets, as well as to emerging trading hubs.
In a statement yesterday, president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said Asia needs clean energy to fuel its growth, and LNG is well-positioned as the most significant source of clean energy as it is abundant, environmentally-friendly and economically competitive.
He said this during his plenary session titled ‘The New LNG Markets’ at the recent 19th International Conference & Exhibition on Liquefied Natural Gas (LNG 2019) in Shanghai.
“Since the first LNG cargo in 1964, global demand for LNG has grown to exceed a record of 300 million tonnes per year (mtpa) for the first time in 2018, and is now forecast to increase by another 100 mtpa in just the next four years.
“This growth trajectory reflects the global aspirations of countries in pursuing prosperity while ensuring sustainability, hence driving demand for clean energy,” he added.
Wan Zulkiflee also shared his observation on the new LNG demand landscape which will come from China’s future energy requirements, limitations in infrastructure of untapped areas in new LNG markets of the Indian subcontinent and Asean, as well as emerging trading hubs from developed LNG spot markets.
However, he said these demands can only be fully served if there are concerted efforts from both government and industry players in co-creating a sustainable market environment. –Bernama
