Petronas urges industry to push ahead with LNG
PETALING JAYA: Petroliam Nasional Bhd has called for industry players to advocate liquified natural gas (LNG) as the preferred clean source of energy in the long-term.
Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin said it was now more critical for industry players to come together in managing the challenges.
He said the challenges posed by changing market dynamics, customer behaviours, increasing regulatory and policy commitments, as well as technology and innovation, could disrupt the growth of the LNG market.
“As an abundant and environment-friendly fuel, LNG is well-positioned to play an important role to meet the global aspiration for secure, affordable and sustainable energy.
“While the growth story for LNG has a tremendous upside, the industry must be cautious. The success of our industry depends on the concerted and concrete actions by all the stakeholders, ” he said in a statement yesterday.
Wan Zulkiflee was speaking at the recent LNG Producer-consumer Conference 2019 in Tokyo.
Emphasising on the importance of advocating LNG and creating new demand, he pointed out each demand centre, particularly emerging markets, had its own unique criteria.
Hence, he said “industry players should collaborate with all stakeholders in developing fit-for-purpose solutions, reflecting shared responsibility in making LNG more available and accessible”.
Partnerships across the value chain have opened up new collaboration opportunities, as well as increased interaction amongst all stakeholders.
Due to the long term nature of the LNG industry, increased interactions amongst stakeholders will facilitate the harmonisation of standards and guidelines such as port protocols and the safety regulations for LNG bunkering.
Wan Zulkiflee said Petronas, being a long term player, was fully invested to unlock the potential of LNG in ensuring a cleaner environment for future generations.
This was in line with the national oil company’s statement of purpose to be “a progressive energy and solutions partner enriching lives for a sustainable future”.