Petronas CEO: LNG can be significant source of clean energy

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will provide clean energy through its liquefied natural gas (LNG) solutions to existing and new markets as well as emerging trading hubs.

President and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said the Asian region, which was seeing a growing middle class, needed clean energy to fuel growth.

“LNG is well-positioned as the most significant source of clean energy as it is abundant, environment-friendly and economically competitive,” he said during his plenary session titled “The New LNG Markets” at the 19th International Conference & Exhibition on Liquefied Natural Gas, here, recently.

Wan Zulkiflee said global demand for LNG surpassed 300 million tonnes per annum (mtpa) for the first time last year.

“LNG is now forecast to increase by another 100 mtpa in the next four years.”

He said the growth trajectory reflected the global aspirations of countries in pursuing prosperity while ensuring sustainability and, hence, driving demand for clean energy.

Wan Zulkiflee also said new LNG demand would come from China’s future energy requirements, limitations in infrastructures of untapped areas in new LNG markets in the Indian subcontinent and Asean, as well as emerging trading hubs from developed LNG spot markets.

However, these demands could only be fully served if there were concerted efforts from the government and industry players in co-creating a sustainable market environment, he added.