KUALA LUMPUR/TOKYO: Malaysian's Petronas will supply Japanese utility firm JERA with 2 million tons of liquefied natural gas (LNG) per annum under a 20-year deal, the leaders of the two countries said on Wednesday.
The agreement, which will begin in 2028, comes as Japan looks to beef up its energy reserves to cope with a global LNG crunch linked to the war in Iran.
"Amid growing uncertainty in the international energy situation, cooperation with Malaysia, a stable supplier of LNG to Japan, is becoming increasingly important," Japanese Prime Minister Sanae Takaichi said at a press conference following a meeting with her Malaysian counterpart Datuk Seri Anwar Ibrahim.
Anwar is on a three-day working visit to Tokyo, where he has been meeting with government and industry officials.
The two countries also agreed to work together to ensure stable supplies of fertiliser feedstocks and strengthen critical mineral supply chains, Takaichi said, without providing details.
Anwar said the two countries will seek to boost trade in ringgit and yen currencies, as well as cooperate on AI, semiconductors, defence and other energy initiatives.
