Business

Petronas to expand LNG portfolio in China

lng

Syndicated News
Written by Syndicated News

KUALA LUMPUR — April 17, 2017: Petronas is set to expand its liquefied natural gas business in China, extending its reach to the country s southern region while looking to expand supply to existing buyers.

A statement issued yesterday stated that a liaison office has been set up in Beijing to facilitate the LNG business growth.

“Petronas has a strong relationship with China in the LNG trade and the prospect for further growth is strong.

“As an integrated LNG solution provider, the company is in the best position to deliver a reliable and innovative long term LNG solutions to meet China’s clean energy demand,” said vice-president of LNG Marketing & Trading, Ahmad Adly Alias

Petronas’ first LNG trade to China was in 2006 with a 25-year term supply to Shanghai LNG Co. Ltd. and then expanded its market presence with the addition of term LNG customers in southern China.

In Sepang, a unit of Petronas Dagangan, Petronas Lubricants Marketing (M) Sdn. Bhd. (PLMM), says it is confident of achieving a three per cent volume increase for motorcycle oil (MCO) products range with the newly motorcycle oil launched, Petronas Sprinta with UltraFlex, this year.

The Petronas Sprinta with Ultraflex has been proven in research that it is 41 per cent better, as it resists high shear to prevent oil thinning as well as thickening when exposed to high temperature.

PLMM Chief Executive Officer, Zubair Abdul Razak, said the new range of motorcycle lubricant resists oil thinning that causes rattling noises as well as combat oil thickening leading to sluggishness.

Malaysia has an estimated 11.6 million bikes with a compounded annual growth rate of four per cent and of that total, 81 per cent of motorcyclists ride everyday with 70 per cent of them relying completely on their bikes to get around.

Petronas Lubricants International regional head of Asia Pacific, Mohd. Khalid Mohamed Latiff, said the launch of the Petronas Sprinta with Ultraflex aims to tap on Malaysia’s sizeable and growing market opportunity.

The new range of Petronas Sprinta lubricant has been introduced to India and Malaysia market and will launch in Vietnam, Thailand and Indonesia in phases starting the third quarter of this year. — Bernama

Comments

comments

About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.