Gerry Wang makes progress with new LNG venture

Gerry Wang makes progress with new LNG venture

Tiger Clean Energy (TCE), led by former Seaspan CEO Gerry Wang, has entered into a sale and purchase agreement with Petronas as it develops its Chinese gas transport plans.

Under the agreement, Petronas will supply LNG to TCE’s LNG ISO tank filling facility at Bintulu in Malaysia. TCE, via its LNG ISO tanks, will deliver the LNG to remote locations in China as part of the agreement.

“This term sale which facilitates the delivery of LNG via LNG ISO tanks is a customer-centric and pragmatic solution undertaken by Petronas that supports and enables greater accessibility to cleaner energy, particularly for remote customers located away from physical LNG pipelines and customers with smaller parcel requirements. Furthermore, delivery of LNG via ISO tanks can also act as an agile back-up solution to meet excess demand with pace as compared to large vessel deliveries which may be restricted by rigid delivery schedules,” Petronas said in a statement,

TCE’s facility, situated close to Petronas’s MLNG facility, will be ready by end of 2020.  The company is also building a distribution centre in Shandong with commencement of operation scheduled in October. It has also secured approval to develop the LNG distribution center along the Yangtze River at Ma’anshan.

Tiger Clean Energy mainly focuses on LNG small parcel distribution by LNG container tanks.

“Through this modern approach in delivering LNG, we established a virtual pipeline that effectively enables LNG to reach off-grid customers who are not directly served by the natural gas distribution system in China. We achieved this through our unique LNG business model, whereby our solutions are customised for market adaptability and customer requirements in a rapidly evolving industry,” said Ahmad Adly Alias, vice president of LNG marketing and trading at Petronas.

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