PETRONAS LNG Ltd. (PLL), a subsidiary of PETRONAS, will keep supplying up to 0.54 million tonnes a year (MTPA) of liquefied natural gas to Japan's Hokuriku Electric Power Company under a renewed contract, following a heads of agreement (HOA) the two companies signed in Kuala Lumpur on 14 July 2026.
The HOA sets out terms for the renewal: PLL is expected to continue the supply for a ten-year period starting in 2028, extending a relationship in which PLL has been Hokuriku Electric's sole LNG supplier since 2018. That supply has fed Hokuriku Electric's LNG-fired power generation at the Toyama-Shinko Thermal Power Station under the current sale and purchase agreement.
Who signed it
Rosdi Ab Rahman, chief executive officer of PETRONAS LNG Ltd., and Koji Matsuda, president of Hokuriku Electric, signed the HOA. Datuk Adif Zulkifli, PETRONAS' executive vice president and chief executive of its gas and maritime business, said the company is "committed to continue delivering reliable LNG supply" to Hokuriku Electric, while also supporting the utility's energy security, operational resilience and transition to lower-carbon energy.
A second agreement on carbon neutrality
On the same day, PETRONAS and Hokuriku Electric also signed a memorandum of understanding (MOU) to explore collaboration on carbon-neutral initiatives. That covers next-generation fuels such as hydrogen and ammonia, renewable energy, and decarbonization technologies including carbon capture and storage and carbon capture, utilization and storage. The MOU sets a goal of building a more resilient LNG supply chain between the two companies.
What the HOA does
The HOA is a preliminary step. PLL and Hokuriku Electric still need to negotiate the full renewal agreement that would replace the current LNG supply contract. The companies describe the deal as extending a relationship that already covers LNG supply and operational collaboration beyond the fuel contract itself.
