KUALA LUMPUR – Malaysia’s national oil and gas company, Petronas, has signed definitive agreements with Japan-based Eneos Xplora, facilitating the latter’s re-entry into Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) in Sarawak.
Under the terms, and subject to the fulfilment of closing conditions, Eneos Xplora will acquire a 10 per cent equity stake in MLNG Tiga for a decade. The arrangement follows the expiry of the previous joint venture agreement in 2023.
MLNG Tiga operates Sarawak’s LNG liquefaction terminal, which has been supplying liquefied natural gas (LNG) to international markets—particularly Japan—since 2003.
In a statement issued alongside yesterday’s virtual signing ceremony, Petronas highlighted that the agreement underscores a shared commitment to long-term energy security and a reliable LNG supply amid a complex and volatile global energy environment.
Petronas president and group chief executive officer, Tan Sri Tengku Muhammad Taufik Tengku Aziz, described the partnership as a reflection of enduring strategic alignment between the two companies.
“This agreement represents both companies’ long-term conviction, one that continues to serve the energy interests of both nations well into the decades ahead,” he said.
He emphasised LNG’s vital role in the global energy mix, bridging current demand while supporting the transition to lower-carbon energy sources.
“LNG continues to play an indispensable role in the global energy mix, bridging today’s energy demands while supporting a credible transition towards lower-carbon futures,” he said.
“With Asia at the centre of global LNG demand growth, stable supply and long-term partnerships remain fundamental to economic resilience across the region,” he added.
Petronas executive vice president and chief executive officer of Gas and Maritime Business, Datuk Adif Zulkifli, noted that Eneos’ return signals confidence in the asset’s enduring value.
“Eneos’ re-entry into MLNG Tiga reflects shared confidence in the asset’s resilience and long-term role within Asia’s LNG landscape,” he said.
He added that the collaboration reinforces Petronas’s efforts to develop a dependable LNG system for key markets.
“It reinforces Petronas’ focus on building a reliable LNG system that continues to deliver value to customers and partners, particularly in important markets such as Japan,” he said.
Meanwhile, Eneos Xplora representative director and president, Yasuhiko Oshida, pointed out that MLNG Tiga has consistently supplied Japanese buyers for more than two decades.
“MLNG Tiga has been a project that has steadily supplied LNG to Japanese buyers since commencing operations in 2003,” he said.
He added that the renewed partnership will support further collaboration with existing stakeholders, including the Sarawak state government and Mitsubishi Corporation, as the companies pursue new opportunities in the evolving global energy transition. - May 1, 2026
The post Petronas and Japan’s Eneos Xplora renew partnership in Sarawak LNG project appeared first on Scoop.