KUALA LUMPUR, Feb 10 (Bernama) -- Malaysian gas shipper Petrolife Aero Sdn Bhd (Petrolife) has inked a gas sale agreement (GSA) with PETRONAS Energy & Gas Trading Sdn Bhd (PEGT) for the supply of natural gas.

Under the GSA, PEGT will provide natural gas supply to Petrolife for a five-year period beginning 1 January 2022.

The agreement cements Petrolife’s position as one of several shippers of natural gas in Malaysia, following the full liberalisation of the non -power sector natural gas market under the Third-Party Access (TPA) mechanism from 2022 onwards.

This development is a step forward in the operationalisation of the TPA by the Government to strengthen Malaysia’s energy security and to improve the efficiency of the natural gas ecosystem through increased industry participation.

The agreement, said Petrolife Managing Director Datuk Mohd Aqliff Shane, signifies the commitment of the Company in providing a secure supply of natural gas to industrial customers.

“It is our long-time commitment of Petrolife to support the TPA mechanism and the natural gas industry liberalisation. Natural gas is the cleanest fossil fuel and the best source of energy as the world transitions into renewable energy. By encouraging the use of natural gas, we are aligning the industries with the Government’s net zero carbon ambition while ensuring greater economic growth,” Datuk Mohd Aqliff said.

“We would like to thank PEGT for this maiden collaboration and we look forward to more partnerships as Petrolife further establishes its market presence as a trusted natural gas shipping company in Malaysia,” Datuk Mohd Aqliff added.

PEGT Chief Executive Officer En. Mohd Khairuddin Khalik said, “With this new partnership, PEGT and Petrolife will continue to supply natural gas to domestic users via flexible energy solutions and competitive pricing whilst aspire to pursue more collaboration in near future”

With the GSA, Petrolife has successfully shipped natural gas to its industrial customers since the start of 2022, said Petrolife Director, Commercial and Trading, En. Samsul Ariff Idris.

“Petrolife strives to set new benchmarks in proving that the gas market liberalisation can be done successfully. For the industry, the entry of new players such as Petrolife will encourage a more efficient price discovery process, foster better productivity, and entice greater investments across the gas value chain in the years to come”, said Samsul Ariff.

Source: Petrolife Aero Sdn Bhd 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Samsul Ariff Idris 
Tel: 0178780347
Email: sam.ariff@petrolife.com.my

--BERNAMA