KUALA LUMPUR, Petroliam Nasional Bhd (Petronas) is looking to expand its footprint in Canada, which has become one of its key liquefied natural gas (LNG) supply bases, said Mohd Jukris Abdul Wahab, executive vice president and CEO of upstream business.
With an estimated 50 trillion cubic feet (TCF) of gas in Canada, Petronas sees significant potential beyond the current Phase 1 of the LNG Canada project. “With 50 TCF, we can support several more LNG projects as resource size is not the issue here,” Mohd Jukris said, adding that the company hopes to receive continued support from the Canadian government.
The energy giant shipped its first LNG cargo from the LNG Canada facility in Kitimat, British Columbia, on July 8. It also operates the North Montney Joint Venture upstream gas project and is a major equity partner in the US$40 billion LNG Canada facility.
Internationally, Petronas has strengthened its presence in countries including Brunei, Indonesia, Vietnam, Turkmenistan, Abu Dhabi, Canada and Suriname. Mohd Jukris noted that Suriname, where Petronas is developing its first offshore gas discoveries, is among its growth markets.
Petronas aims to increase revenue from international assets to over 60% of its total, up from the current 40%, while maintaining strong investments in Malaysia as part of its core portfolio.
