Petronas - an unusual NOC
Low oil prices have hurt, but Petronas is adapting
This summer, Malaysia's Petroliam Nasional Berhad (Petronas) delivered the world's first floating liquefied natural gas facility, beating Shell's Prelude vessel by more than a year. PFLNG Satu will process up to 1.2m tonnes a year of LNG, from shallow waters in Malaysia's Kanowit gasfield, 180km offshore Sarawak. Prelude will be three times bigger, but Petronas got there first. A second floating-LNG vessel, with processing capacity of 1.5m t/y, is under construction for use at the deep-water Rotan field and might be ready in the next two or three years. Once proved at Kanowit and Rotan, the technology could be rolled out to Malaysia's many other stranded gasfields or to projects overseas. Fl
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
