KUALA LUMPUR (July 29): Malaysia’s PETRONAS said it has renewed an agreement to supply liquefied natural gas (LNG) to Japanese electric power utility Hokuriku Electric Power Company.

Under the agreement signed on July 14, the national company, officially known as Petroliam Nasional Bhd, will continue to sell up to 0.54 million tonnes of LNG annually for 10 years beginning 2028, according to a statement. The transaction price was not disclosed.

“PETRONAS remains committed to continue delivering reliable LNG supply while supporting Hokuriku Electric’s energy security, operational resilience and transition journey,” said Datuk Adif Zulkifli, head of PETRONAS’ gas and maritime business.

PETRONAS has been the sole supplier of LNG to Hokuriku Electric since the original agreement was signed in 2018 with the company that operates the multi-fuel Toyama Shinko Power Station.

On Wednesday, the companies also signed a memorandum of understanding to explore strategic collaboration on carbon-neutral initiatives.

The pact aims to explore fuels including hydrogen and ammonia, and renewable energy, as well as decarbonisation technologies such as carbon capture-and-storage, and carbon capture, utilisation, and storage.

“Beyond LNG, the MOU on carbon-neutral collaboration underscores our shared ambition to explore new opportunities that can create long-term value for both parties,” Adif added.