Petronas Seeks to Expand Presence in Canada Amid Abundant LNG Resources

Strategic Insights -

Petronas, Malaysia's state-owned energy firm, is eager to increase its involvement in Canada, driven by the country's status as a major liquefied natural gas (LNG) supplier. Led by executive vice president and chief executive officer of upstream business Mohd Jukris Abdul Wahab, Petronas has significant gas reserves in Canada, totaling approximately 50 trillion cubic feet (TCF). The company has already launched several LNG projects and is poised to support multiple more initiatives, leveraging its substantial resource base. Petronas is also seeking support from the Canadian government for additional LNG projects, aiming to establish Canada as a key supplier base.

Key Takeaways:

  • Petronas has expressed keen interest in expanding its presence in Canada, with the country being one of its major LNG suppliers.
  • The energy company has approximately 50 TCF of gas reserves in Canada, sufficient to support several more LNG projects.
  • Petronas has embarked on a series of LNG projects backed by its resource portfolio and is looking to establish Canada as one of its major LNG supply bases.
  • Mohd Jukris expressed hope for the Canadian government's support for additional LNG projects, which would see Canada expand its role as a key LNG supplier for Petronas.
  • Petronas has successfully shipped the first LNG cargo from its LNG Canada facility in Kitimat, British Columbia.
  • The company operates the North Montney Joint Venture upstream gas project and is a major equity partner in LNG Canada, a US$40 billion facility.
  • Petronas aims to increase its international business, targeting revenue contribution from international assets to move beyond 60% compared to the current 40%.
  • Despite this, the company will continue to prioritize investments in Malaysia, with its local investments serving as the core portfolio.

Statistics:

  • Petronas has approximately 50 trillion cubic feet (TCF) of gas reserves in Canada.
  • The company has launched several LNG projects and is poised to support multiple more initiatives.
  • The current LNG Canada project is in Phase 1.
  • Petronas operates the North Montney Joint Venture upstream gas project.
  • The company is a major equity partner in LNG Canada, a US$40 billion facility.
  • Petronas' revenue contribution from international assets is currently 40%, with the aim to increase it to beyond 60% by leveraging its international business.

Sources:

  • BERNAMA News Agency: Petroliam Nasional Bhd (Petronas) is very keen to expand its presence in Canada (11 Aug 2025)
  • BERNAMA News Agency: Petronas has approximately 50 TCF of gas in Canada and the current LNG Canada project is only in Phase 1 (11 Aug 2025)