Regional LNG: PETRONAS unit targets entry into Philippine LNG market

Malaysia LNG Group of Companies (MLNG), a subsidiary of PETRONAS, is eyeing the Philippines as a strategic market for liquefied natural gas (LNG) as it expands its presence in Southeast Asia. MLNG CEO Laga Jenggi emphasized the growing importance of LNG, noting that despite the transition to greener energy, LNG will continue to play a significant role in the region's energy landscape, Philstar reported.

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Jenggi highlighted the Philippines' reliance on LNG as a bridge fuel to reduce coal dependence and support its energy transition. MLNG is positioning itself to meet this rising demand, with ongoing discussions about entering the Philippine market.

The company operates the large Petronas LNG complex in Bintulu, Malaysia, serving markets in Japan, Korea, China, and emerging demand centers like the Philippines. Jenggi also noted that global LNG prices could soften in the near future due to increasing supply, particularly from U.S. LNG plants.

Editing by Alexander Ginting