Malaysia, China's third largest source of liquefied natural gas (LNG) will increase. Malaysian national oil company, PETRONAS, aims add 5 million tons of LNG per year in the next four years.
By June 2024, PETRONAS expects to start production on the joint venture LNG Canada project, contributing 3.3 million tons annually. Additionally, its third floating LNG project in Sabah is projected to start production in 2027, with an annual capacity of 2 million tons.
China imported over 63 million tons of LNG last year, with Malaysia supplying over 7.4 million tons, 22 percent of Malaysia’s production and 12 percent of China’s imports behind Australia and Qatar.
PETRONAS has been collaborating with China on LNG projects since 2006, and their partnership continues to strengthen as they explore clean energy alternatives.
