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19 min ago 2 min read
Japanese liquefied natural gas (LNG) producer ENEOS Xplora (ENEOS) will re-enter Malaysia’s LNG Tiga project with a 10% stake, alongside majority stakeholder Petroliam Nasional Berhad (Petronas).
Subject to closing conditions, ENEOS will hold its share for the next 10 years, marking a renewed collaboration with Petronas.
The MLNG Tiga project is a two-train LNG development with a capacity of 7.7 million tonnes per annum (mtpa). It began operations in 2003.
Petronas operates and holds a 60% equity stake in the MLNG Tiga terminal, part of its wider LNG complex in Bintulu, Sarawak, Malaysia.
Other shareholders in MLNG Tiga include the Sarawak State Government (25%) and Mitsubishi (5%).
Adif Zulkifli, Executive Vice-President and CEO of Gas & Maritime Business at Petronas, said ENEOS’ re-entry reflects a “shared confidence” in the asset’s long-term role within Asia’s LNG landscape.
Asia purchased 20.4 million tonnes of LNG in March 2026, according to Kpler data, down from a monthly average of 22.1 million tonnes throughout 2025.
According to the Institute for Energy Economics and Financial Analysis, in the week ending 29 March, Asia recorded its lowest weekly import volumes since 2023.
Imports from Qatar were below two million tonnes in March, reflecting cargoes in transit before the outbreak of conflict in the Middle East.
Tan Sri Tengku Muhammad Taufik, President and CEO of Petronas, said, “With Asia at the centre of global LNG demand growth, stable supply and long-term partnerships remain fundamental to economic resilience across the region.”
