PETALING JAYA: Malaysian gas shipper Petrolife Aero Sdn Bhd has inked a gas sale agreement (GSA) with Petronas Energy & Gas Trading Sdn Bhd (PEGT) for the supply of natural gas.

       In a statement yesterday, Petrolife said that under the agreement, PEGT will supply natural gas to Petrolife for a five-year period beginning Jan 1, 2022.

       “With the GSA, Petrolife has successfully shipped natural gas to its industrial customers since the start of 2022,” said Petrolife director of commercial and trading Samsul Ariff Idris.

       “Petrolife strives to set new benchmarks in proving that the gas market liberalisation can be done successfully.

       “For the industry, the entry of new players such as Petrolife will encourage a more efficient price discovery process, foster better productivity, and entice greater investments across the gas value chain in the years to come,” he said.

       The agreement would cement Petrolife’s position as one of several shippers of natural gas in Malaysia.

       This is following the full liberalisation of the non-power sector natural gas market under the third-party access (TPA) mechanism from 2022, the company said.

       The TPA is part of the government’s plan to fully liberalise the Malaysian gas market in the non-power sector.

       This includes allowing third-party shippers to supply natural gas to the industrial sector.

       Petrolife managing director Datuk Mohd Aqliff Shane said the company was committed to providing a secure supply of natural gas to industrial customers.

       “It is our long-time commitment to support the TPA mechanism and the natural gas industry liberalisation.

       “Natural gas is the cleanest fossil fuel and the best source of energy as the world transitions into renewable energy.

       “By encouraging the use of natural gas, we are aligning the industries with the government’s net-zero carbon ambition while ensuring greater economic growth,” he said.

       Mohd Aqliff extended his thanks to PEGT for its maiden collaboration.

       “We look forward to more partnerships as Petrolife further establishes its market presence as a trusted natural gas shipping company in Malaysia,” he added.

       This development is a step forward in the operationalisation of the TPA by the government to strengthen Malaysia’s energy security and to improve the efficiency of the natural gas ecosystem through increased industry participation, Petrolife added.

       PEGT chief executive officer Mohd Khairuddin Khalik said, “With this new partnership, PEGT and Petrolife will continue to supply natural gas to domestic users via flexible energy solutions and competitive pricing whilst to pursue more collaboration in the near future.”