PETRONAS LNG and Hokuriku Electric open talks on 10-year LNG supply renewal
PETRONAS LNG Ltd. and Hokuriku Electric Power Company signed a Heads of Agreement on 14 July 2026 to negotiate the renewal of their long-term LNG supply arrangement. The proposed terms would provide up to 0.54 million tonnes per annum for ten years beginning in 2028. Separately, parent company PETRONAS and Hokuriku Electric signed an MOU to explore hydrogen, ammonia, renewable energy, CCS, CCUS and LNG supply-chain resilience initiatives.
Confirmed: PETRONAS LNG Ltd. and Hokuriku Electric signed a Heads of Agreement in Kuala Lumpur on 14 July 2026. The parties intend to negotiate and conclude a renewed LNG supply agreement under which PETRONAS LNG is expected to supply up to 0.54 MTPA for ten years from 2028. The release does not say that the definitive renewal agreement has been concluded, so the HOA should not be treated as a final LNG contract award. PETRONAS and Hokuriku Electric also signed a separate MOU to explore low-carbon fuels, renewable energy, CCS, CCUS and measures to strengthen LNG supply-chain resilience. PETRONAS LNG has supplied Hokuriku Electric under the existing sale and purchase agreement since 2018, supporting generation facilities at Toyama-Shinko Thermal Power Station.
Interpretation: If converted into a definitive agreement, the renewal would preserve a long-duration Japanese outlet for PETRONAS LNG volumes into the late 2030s and reinforce PETRONAS' position in Japan's contracted LNG market. The parallel MOU broadens the relationship beyond commodity supply, but it contains exploratory objectives rather than committed projects, investment amounts or deployment schedules. No FLNG, FSRU, LNG carrier, terminal or other marine asset is identified. Extracted relationships are source-supported suggestions pending analyst review and are not represented as database-verified.