Petronas Bags New Contract to Supply LNG to Shizuoka Gas

Petronas has secured a fresh long-term deal to supply liquefied natural gas to Japan's Shizuoka Gas Co Ltd, extending a commercial relationship that stretches back three decades. Under the newly signed sale and purchase agreement, the Malaysian national oil and gas company will provide roughly 0.84 million metric tonnes of LNG over a seven-year period beginning in 2032.

The volumes will be drawn from Petronas' global LNG portfolio and delivered on a delivered-ex-ship basis. Shizuoka Gas, which first received Malaysian LNG at the Sodeshi terminal operated by Shimizu LNG in 1996, said it has taken more than 200 cargoes from Petronas over the past 30 years. The utility framed the arrangement as a way to diversify its supply base and strengthen procurement resilience amid rising geopolitical uncertainty, while also signalling intent to explore future cooperation on carbon neutrality.

The agreement follows another Japanese deal announced by Petronas last month, in which power company JERA contracted for up to around two million tonnes per annum across 20 years from 2028, sourced primarily from Malaysia. Petronas said that contract marked a shift away from conventional point-to-point supply towards more flexible arrangements. It also confirmed deliveries would use its new generation of 174,000-cubic-metre carriers, built to meet the International Maritime Organization's tighter emissions rules.

The wider context underlines Petronas' scale in the market. During 2025 it delivered 563 cargoes, including 383 from its Bintulu complex in Sarawak and 41 from the floating facilities PFLNG Satu and PFLNG Dua, with total LNG sales reaching 36.62 million tonnes. The company has also broadened its geographic reach through LNG Canada, shipping its first cargo from British Columbia to Japan in July 2025.

For Malaysian and wider Southeast Asian maritime and oil and gas readers, the cluster of Japanese contracts reinforces the region's position as a dependable LNG supplier at a time when Asian buyers are actively spreading procurement risk. The emphasis on flexible, portfolio-based supply and IMO-compliant tonnage also signals ongoing demand for advanced carrier capacity, terminal handling and floating production support, sustaining activity across shipping, upstream gas and services value chains serving the north Asian trade.