PETRONAS LNG Ltd. (PLL), a subsidiary of PETRONAS, signed a Sale and Purchase Agreement (SPA) with H-Energy Mideast DMCC (HEMD) for supply of Liquefied Natural Gas (LNG) to India.
Chief executive officer and managing director of PLL, Ezhar Yazid Jaafar said that the agreement with HEMD marks a milestone for PLL as the first term LNG contract to India.
“It is also in line with PETRONAS’ growth strategy to expand its LNG supply and help meet rising demand for clean and reliable energy in the fourth-fastest-growing economy in the world,” he added.
Having over 30 years of LNG experience, PETRONAS has expanded its LNG supply portfolio in recent years to include Australia Gladstone LNG and the world’s first floating LNG facility PETRONAS Floating LNG (PFLNG Satu).
The agreement was signed on 24 January between Ezhar and HEMD’s chief executive officer, Darshan Hiranandani.
HEMD, based in Dubai, is a wholly-owned subsidiary of H-Energy Global Limited (which is a part of Hiranandani Group), and the focus of its business is to secure supply and trade LNG, Crude Oil, Petroleum Products and Petrochemicals.