Petronas agrees “flexible” LNG deal with Tokyo Gas

Malaysia’s Petronas has renewed an LNG supply contract with Tokyo Gas, but the duration and volumes of the deal have been greatly reduced.

Under the heads of agreement Tokyo Gas will buy Malaysian LNG for up to 13 years from April this year, purchasing up to 500,000mt per annum (mtpa) for the first six years and up to 900,000mtpa in the next seven years.