PETRONAS, ENEOS Xplora: ENEOS to re-enter MLNG Tiga with 10% stake
- ENEOS Xplora to acquire a 10% equity stake in Malaysia LNG Tiga (MLNG Tiga) for 10 years, subject to closing conditions
- The previous MLNG Tiga Joint Venture Agreement expired in 2023
- MLNG Tiga has supplied LNG to Japanese buyers since commencing operations in 2003
- Other MLNG Tiga shareholders include the Sarawak State Government and Mitsubishi Corporation
Transaction details
ENEOS Xplora will re-enter Malaysia LNG Tiga (MLNG Tiga) with a 10% equity stake for the next decade, subject to closing conditions, after the prior joint-venture agreement expired in 2023.
Partnership background and signatories
The PETRONAS–ENEOS relationship dates to 1995; the agreements were signed by Datuk Adif Zulkifli (PETRONAS EVP & CEO, Gas & Maritime Business) and Yasuhiko Oshida (ENEOS Xplora Representative Director & President), witnessed by Marina Md Taib and Jotaro Tomoeda.
Operations and markets
MLNG Tiga commenced operations in 2003 and has supplied LNG to Japanese buyers; other shareholders include the Sarawak State Government and Mitsubishi Corporation.
Strategic context
ENEOS’s re-entry underscores confidence in MLNG Tiga’s resilience and supports efforts to ensure reliable LNG supply to Asia, particularly Japan, while reinforcing investor confidence in Malaysia’s energy investment climate.
Source: PCG