Malaysia's national oil company Petroliam Nasional Berhad aims to restart a gas pipeline currently under force majeure by the first quarter of 2024, a senior company executive said on Wednesday.
Japan, Malaysia's top client, imported 12 million tonnes of LNG in 2022, up 19% from 2021, according to Japan's trade data.
"Not only Bintulu, but it is our aspiration to get a bit more from Canada to Japan," he said, referring to the LNG Canada project in Kitimat, British Columbia, in which Petronas has a 25% equity stake. The first phase of the project, set to be Canada's first LNG export terminal, is expected to begin shipments around 2025., LNG supplies from there could go to markets like Europe and Asia if the project is realized, added Shamsairi.to make a final decision next year on whether to invest in the first phase of the $60 billion project.
"Europe is one of the markets we cannot ignore. Other than that, we potentially can bring it back to Asia Pacific," he said. "ASEAN also will be good, if it is economical to do that."Shamsairi expects Asian spot LNG prices to remain at current levels or trend lower towards the third quarter, excluding the risk of an unusually warm summer, as major buyers
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