KUALA LUMPUR, Nov 10 (Reuters) - Malaysia, through state oil firm Petronas, has ventured into the liquefied natural gas (LNG) bunkering business and made its first delivery in the southern state of Johor this week, the country’s marine department said on Tuesday.
The maiden operation involved supplying 1,150 tonnes of LNG from bunkering vessel MV Avenir Advantage, which Petronas leased from Future Horizon, to vehicle transport vessel Siem Aristotle at the Pasir Gudang port on Monday.
“This makes Malaysia among a few first-mover countries able to provide LNG bunkering services to the marine industry in the east,” Marine Department Malaysia said.
Avenir Advantage will provide LNG bunkering services and related services to international and domestic vessels passing through the Strait of Malacca.
Malaysia, the world’s fourth-largest LNG exporter, has been developing the infrastructure needed to support LNG bunkering since 2017.
The country's bunkering services market is estimated to be at least three times as big as Singapore's, valued at 2 billion ringgit ($486.03 million), according here to the Malaysian Investment Development Authority.
$1 = 4.1150 ringgit Reporting by Liz Lee; Editing by Ramakrishnan M.
Our Standards: The Thomson Reuters Trust Principles.