PetroChina International inks multiple LNG deals at Milan Gastech

PetroChina International, the trading subsidiary of state-owned PetroChina, signed several cooperation agreements during Gastech 2025, held in Milan over Sept. 9-12, the company announced via its official WeChat account late Sept. 12.

These agreements mark PCI's accelerated efforts to enhance its international LNG market presence, particularly in Europe and Asia.

Among the key agreements, PCI signed a cooperation agreement with Norway-based Equinor Sept. 9 to deepen collaboration in natural gas resource development and market expansion, building on prior spot trade cooperation.

On the same day, PCI also signed a memorandum of understanding with Turkey's Botas, outlining intentions for future LNG sales and purchase agreements, witnessed by Turkey's Minister of Energy and Natural Resources, Alparslan Bayraktar.

On Sept. 10, PCI entered into an MOU with Dutch bunker supplier Titan Clean Fuels to jointly develop the global LNG bunkering business, leveraging PCI's resource advantages alongside Titan's technical expertise.

Furthermore, PCI signed an LNG master sales and purchase agreement with Singapore GasCo Sept. 11, continuing its efforts to expand its LNG client portfolio in Asia.

These agreements are part of PetroChina's broader strategy to strengthen its global natural gas supply chain and marketing network, industry analysts said. The deals reflect the global LNG market's evolving dynamics, where Asian and European buyers increasingly seek flexible and diversified supply sources.

Prior to these agreements, PCI had already collaborated with several European companies. In February, it partnered with Titan to supply 2,000 mt of LNG from Rotterdam's Gate terminal via a bunkering vessel, marking its entry into the European LNG bunkering sector.

The company previously secured long-term infrastructure access in Europe. Alongside BP, PetroChina acquired regasification and storage capacity at the Gate LNG terminal through 20-year agreements signed in 2023. This expansion, which includes a fourth LNG tank, is expected to increase the terminal's capacity by 4 Bcm/year by 2026, bringing its total capacity to 20 Bcm/year.

As the shift toward gas as a transition fuel continues, PetroChina is positioning itself as a key connector between gas-producing regions and high-demand markets, particularly in Europe, which is actively seeking diversified gas sources amid ongoing market volatility, industry analysts said.