Petroliam Nasional Bhd (Petronas) is eager to broaden its footprint in Canada, which has become one of its key suppliers of liquefied natural gas (LNG), said Mohd Jukris Abdul Wahab, executive vice president and chief executive officer of upstream business.
At an Editors Briefing today, Mohd Jukris highlighted that Petronas holds about 50 trillion cubic feet (TCF) of gas in Canada, with the LNG Canada project currently at Phase 1. “With 50 TCF, we can support several more LNG projects as resource size is not the issue here,” he said.
Petronas had successfully delivered its first LNG cargo from the LNG Canada facility in Kitimat, British Columbia, on 8 July. The company operates the North Montney Joint Venture upstream gas project and is a major equity partner in LNG Canada, a US$40 billion facility (US$1 = RM4.24).
Expressing optimism, Mohd Jukris said, “We are keen to expand our presence there and see Canada as one of our major LNG supply bases going forward.” He also expressed hope for the Canadian government’s support for additional LNG projects.
Commenting on Petronas’ international presence, Mohd Jukris said the company has strengthened its position across several countries including Brunei, Indonesia, Vietnam, Turkmenistan, Abu Dhabi, Canada and Suriname. “We are growing in some of these countries and some of the countries have been earmarked as our heartlands. For example, we are gearing ourselves up to develop our first optical gas discoveries in Suriname, while still building exploration wells in the country,” he added.
On revenue targets, he revealed that Petronas aims to increase contribution from international assets to over 60 per cent, up from the current 40 per cent. “By doing that, it doesn’t mean less significant investment in Malaysia. I think our investments in Malaysia will continue to be our core portfolio of investments,” he said.
