Malaysia’s Petronas targets 10% share of world LNG market
Malaysia 
KUALA LUMPUR, March 19, 2024 – Petronas is eyeing new investments in the Atlantic Basin in a bid to boost its global LNG market share to 10%, Reuters reported on Tuesday.
The report cited comments from Petronas senior vice-president for LNG Abang Yusuf at the CERAWeek energy conference.
He said the company is also eyeing a stake in the second phase of LNG Canada project on British Columbia’s west coast. The export facility is expected to begin operations in H2 2024.
Petronas is already among the largest natural gas players in Canada, with most of its assets located on the North Montney formation in northeastern British Columbia.
Maximising LNG market share is one of Petronas’ stated targets in its long-term energy transition strategy.
More than 70% of the company’s overall revenue is generated outside Malaysia.
Photo courtesy of Petronas.
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