Malaysia’s Petronas Signs LNG Supply Agreement with PV Gas of Vietnam

Malaysia’s state-owned energy company, Petronas, has entered into an agreement with PV Gas, a subsidiary of Vietnam Oil and Gas Group (Petrovietnam), for the supply of liquefied natural gas (LNG) to Vietnam.

On March 26, 2025, a delegation from Petronas visited PV Gas’s headquarters to discuss opportunities for collaboration in the gas and LNG value chain. This builds upon a memorandum of cooperation (MoC) signed by the two companies in November 2023, which expanded the scope of cooperation to include areas such as renewable energy, gas, and petrochemicals.

During the meeting, Petronas and PV Gas signed an agreement for the supply of LNG shipments, valued at VND 1,000 billion (approximately $39 million), with deliveries scheduled for early April 2025. This agreement marks a significant milestone in the LNG trade cooperation between the two companies in the Vietnamese market.

Both parties also discussed potential collaboration opportunities in the gas and LNG value chain to address Vietnam’s increasing energy demands. This includes exploring supply options and investing in infrastructure development within the gas industry and related sectors.

Furthermore, Petronas and PV Gas have agreed to explore the possibility of entering into cooperation agreements in the near future, including potential purchases and sales of LNG through medium and long-term contracts.

Recent developments have seen PV Gas actively pursuing LNG deals, with agreements signed earlier this month with US-based energy companies Excelerate Energy and ConocoPhillips to collaborate on sourcing LNG from the United States.