Asia/Pacific News
Asian Firms Strike LNG Bunkering Sales/Supply Deal
Asian energy firms Sumitomo and Petronas have joined forces to market and supply the alternative marine fuel, liquified natural gas.
Under the agreement, Sumitomo will provide LNG bunkering and related services to Petronas' shipping customers calling at ports located within Tokyo bay; Petronas will offer the same services to Sumitomo's customers making ship calls at Johor and Malacca.
According to price reporting agency Argus Media, the deal could pave the way for greater co-operation.
Malaysia's southern ports and Tokyo bay are strategically important marine hubs for Sumitomo and Petronas. The firms aim to supply cost-competitive LNG bunkering services in these targeted regions, with the market for LNG bunker supplies in Asia still in an early development phase.
Petronas has also signed an LNG bunker supply deal with Japanese power firm Jera Co.
