HomeNewsMalaysia's Petronas and Commonwealth LNG in talks for term supply

Malaysia's Petronas and Commonwealth LNG in talks for term supply

4/29/2025

Malaysian state-owned oil and gas firm Petroliam Nasional, or Petronas, is in talks with Commonwealth LNG to buy liquefied natural gas (LNG) from the U.S. company's facility in Cameron, Louisiana (U.S.), according to four trading and industry sources with knowledge of the matter.

Petronas is in talks to buy at least 1 metric MMtpy of LNG from Commonwealth LNG, said two of the four sources, who declined to be identified as they were not authorized to speak to the media.

"Talks are at an advanced stage for at least 1 MMtpy," said one of the sources.

Several Asian countries plan to increase their contractual purchases of U.S. LNG to reduce the trade imbalance with the United States and escape high reciprocal tariffs.

Petronas has previously mentioned its key focus area of expanding its global LNG portfolio to meet growing demand, and that its supply from some U.S. contracts could be sold in the spot market to Europe or Asia.

Commonwealth LNG and Petronas did not respond to a request for comment.

Commonwealth LNG is developing a 9.5-MMtpy LNG plant in Cameron, Louisiana. It received its export license from the U.S. Department of Energy in February having waited almost two years for it under the Biden administration. Commonwealth said it has seen an increase in interest from prospective buyers since securing its export license.

The project currently has almost 8 MMtpy of its supply either under contract or under consideration, including 2.5 MMtpy with Woodside Energy and 2 MMtpy with Private equity firm Kimmeridge, which acquired a 90% stake in Commonwealth LNG.

Petronas has 20-yr deals for 1 MMtpy of LNG from Venture Global's Plaquemines facility and 1.1 MMtpy with Cheniere Energy.

In December, Petronas had also signed a 15-yr deal with ADNOC for 1 MMtpy of LNG, with deliveries expected to start in 2028.

 

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