PETRONAS through its subsidiary, PETRONAS LNG Ltd. (PLL) signed a Memorandum of Understanding (MoU) to explore business opportunities for joint collaboration in regard to liquefied natural gas (LNG) with Pavilion Energy, through its wholly-owned subsidiary, Pavilion Energy Singapore, on 30 March 2017 in Kuala Lumpur.

Under the terms of the MOU, the companies will explore the supply and optimisation of LNG including spot trading and cargo swaps. In addition, the companies will also look into joint efforts relating to LNG receiving terminal and storage facilities.

Signing on behalf of PETRONAS was PLL Chief Marketing Officer & Chief Executive Office, Ezhar Yazid Jaafar, together with Wong Vin Kee, Vice President & Head of LNG Operations of Pavilion Energy Singapore. Also present to witness the signing were PETRONAS Executive Vice President & Chief Executive Officer Upstream, Datuk Mohd Anuar Taib and Seah Moon Ming, Chief Executive Officer of Pavilion Energy and Pavilion Energy Singapore.

"PETRONAS' strong presence in the integrated LNG value chain and diversified LNG portfolio, together with Pavilion Energy's position as one of the LNG importers in Singapore, will allow both companies to leverage on each other's strengths to create value and growth in the region." said Datuk Mohd Anuar Taib.

"This MOU marks a significant step in the relationship between Pavilion Energy and PETRONAS. I am delighted to see close collaboration between our two companies which will also strengthen and grow the regional LNG market," said Seah Moon Ming.