Photo/IllutrationThe logo of Malaysian energy group National Petroleum Limited, commonly known as PETRONAS, is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, on July 12, 2023. (Reuters file photo)

KUALA LUMPUR/TOKYO–Malaysian’s Petronas will supply Japanese utility firm JERA with 2 million ‌tons of liquefied natural gas (LNG) ⁠per annum ⁠under a 20-year deal, the leaders of the ⁠two countries said on Wednesday.

TribuneBiz: Petronas will supply up to two million tonnes of liquefied natural gas annually to Japan's Jera Co Inc under a new 20-year agreement beginning in 2028. The deal extends the partnership

The agreement, which will begin in 2028, ‌comes as ⁠Japan looks to beef up ​its energy reserves to cope with a global LNG crunch linked to the war in Iran.

“Amid growing uncertainty in the international energy situation, cooperation with Malaysia, a stable supplier of LNG to Japan, is becoming increasingly ⁠important,” ​Japanese ​Prime Minister Sanae Takaichi ‌said at a press conference following ‌a meeting with her Malaysian counterpart Anwar Ibrahim.

PETRONAS LNG and JOGMEC Forge Strategic Alliance for Japan's LNG Security

Anwar ​is on a three-day working visit to Tokyo, where he ⁠has been meeting with government and industry officials.

The two ⁠countries also agreed to work together to ensure stable supplies of fertilizer feedstocks and strengthen critical mineral supply chains, Takaichi said, without providing details.

Anwar said the two countries will seek to boost trade in ringgit and yen ⁠currencies, as ​well as cooperate on AI, semiconductors, defense and other energy initiatives