Petroliam Nasional Bhd (Petronas) subsidiary Petronas LNG Ltd (PLL) has signed a Heads of Agreement (HoA) with Japan’s Hokuriku Electric Power Company to negotiate the renewal of a long-term liquefied natural gas (LNG) supply agreement.
Under the proposed arrangement, PLL is expected to continue supplying up to 0.54 million tonnes per annum (MTPA) of LNG to Hokuriku Electric for a further 10-year period beginning in 2028.
Petronas said the HoA represents another milestone in the long-standing partnership between both companies, reflecting the trust, reliability and strategic importance of their relationship built over the years.
“The HoA marks another milestone in the longstanding partnership between Petronas and Hokuriku Electric. It reflects the mutual confidence built over the years and underscores the continued trust, reliability and strategic importance of the Petronas-Hokuriku Electric relationship,” the company said.
The agreement was signed in Kuala Lumpur on July 14, 2026 by PLL chief executive officer Rosdi Ab Rahman and Hokuriku Electric president Koji Matsuda.
On the same day, both parties also entered into a Memorandum of Understanding (MoU) to explore strategic collaboration in carbon-neutral initiatives.
According to Petronas, the MoU reflects a shared commitment to developing a more resilient LNG supply chain while exploring opportunities in next-generation energy solutions, including hydrogen, ammonia, renewable energy, carbon capture and storage (CCS), and carbon capture utilisation and storage (CCUS) technologies.
Petronas executive vice president and chief executive officer of its Gas and Maritime business Datuk Adit Zulkifli said the company remains committed to supporting Hokuriku Electric’s energy security, operational resilience and transition towards a lower-carbon future.
“Beyond LNG, the MoU on carbon-neutral collaboration underscores our shared ambition to explore new opportunities that can create long-term value for both parties,” he said.
Petronas highlighted that PLL has been the sole LNG supplier to Hokuriku Electric since the current LNG sale and purchase agreement began in 2018, providing LNG for the utility’s LNG-fired power generation facilities at the Toyama-Shinko Thermal Power Station.
The proposed renewal is expected to ensure continuity of LNG supply beyond the existing contract period while further strengthening Petronas’ position as a reliable long-term LNG partner for Japanese energy companies.
