Petronas CEO: Natural Gas is the cleanest fossil fuel that we have

[Tom Kirkman + 8,860]

Malaysia's Petronas is looking at greener O&G grass overseas these days, likely due to internal squabbles at home with the 4 oil & gas producing states in Malaysia. 

All of Malaysia's LNG comes from MLNG (Malaysia LNG) in Bintulu, Sarawak.  And the state of Sarawak is wrestling with Petronas over more control over its own O&G (and LNG) resources. 

Partly as a result of the tussle between Sarawak and Petronas over LNG, Malaysia's LNG exports dropped significantly over the last few months.

And ... Petronas signed a long term contract to import LNG from USA's Cheniere Energy.  Apparently (just speculation here) Petronas finds it easier and cheaper to import LNG from the USA to fulfil its long term LNG supply contracts to the Far East than it is to deal with the additional Oil & Gas and LNG license requirements of the Malaysian state of Sarawak.

Anyway, here is an article from FT, who don't much like their articles shared; so I'll only provide a short excerpt, regarding Petronas CEO Wan Zulkiflee's views about Natural Gas:

Petronas bets big in Canada to meet Asian LNG demand

Malaysia’s state-owned energy group is doubling down on Canada in an attempt to build up gas resources that will help meet a growing wave of Asian demand as the region moves away from coal and into alternative sources of energy.

 

Wan Zulkiflee, chief executive of Petronas, told the Financial Times that while its home country would remain its stronghold, Canada would be the “second heartland for our gas business in the longer term”.

 

... Petronas’s commitment to Canada also points to the group’s big bet on gas, which represents 70 per cent of its portfolio. “Many people talk about it [like it] is a transition, it is a bridging fuel,” Mr Zulkiflee said. “I don’t take that view. I think gas will be here to stay for a long, long time. I think it is the cleanest fossil fuel that we have.”