** Petronas, Inks Ink 20-Year Charter Deal for 5 LNG Carriers
** Malaysian energy giant secures long-term vessel charters for upcoming LNG shipping needs as global demand grows.
BODY:
Malaysia's state-owned energy company Petronas has entered into a 20-year charter agreement for five new liquefied natural gas (LNG) carriers, according to a report from Rigzone. The deal, announced Tuesday, covers the provision of project management services during the shipbuilding phase, followed by full operational and ship management upon the vessels' delivery beginning in 2029.
In a separate development, PNG LNG project partners have approved a new upstream development in Papua New Guinea, Rigzone reported. The targeted Agogo Production Facility is designed to deliver incremental production of approximately 135 million cubic feet per day, with first gas expected in 2028.
Meanwhile, European energy firm Uniper stated that its broadly diversified gas and LNG procurement portfolio is well-positioned to withstand geopolitical risks and resulting market fluctuations. The company made the statement Tuesday while reporting a rise in first-quarter profit.
The series of announcements underscores the ongoing global investment in LNG infrastructure and supply chain security. For operators and royalty owners in North Dakota's Bakken formation, the expansion of international LNG capacity represents potential long-term outlets for natural gas production, though the region remains primarily an oil-focused play.
TAGS: Petronas, LNG, charter, vessels, Rigzone, upstream, development, Uniper, procurement
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Source
** Based on reports from Rigzone published May 12, 2026.
