PETRONAS Expands Brazil Operations, Delivers First LNG Canada Cargo, and Advances Eni Upstream Venture
Photo Credit : PETRONAS
Rio de Janeiro, Brazil | August 8, 2025 - PETRONAS has advanced its global growth strategy with three major developments spanning the Americas and Europe, underscoring its commitment to building a future-ready energy portfolio. The integrated energy company expanded its upstream footprint in Brazil, delivered its first LNG cargo from LNG Canada, and agreed to form a new upstream joint venture with Eni, reinforcing its position in high-growth, strategically important markets.
In Brazil, PETRONAS has strengthened its presence through participation in deepwater assets that complement its global exploration and production portfolio. The move is part of its transformation plan to diversify resource bases and secure long-term oil and gas supply. The company’s operations in Brazil provide access to prolific basins and new development opportunities, aligning with its focus on upstream growth in competitive, resource-rich regions.
In North America, PETRONAS achieved a significant milestone by delivering its first LNG cargo from the LNG Canada facility. The shipment reflects the company’s expanding role in the global liquefied natural gas market and enhances its ability to serve long-term demand in Asia and beyond. As a founding partner in LNG Canada, PETRONAS is leveraging this asset to diversify supply sources, strengthen its marketing portfolio, and ensure reliable, competitively priced LNG for its customers.
Photo Credit : PETRONAS
Meanwhile, in Europe, PETRONAS and Eni have agreed to establish a proposed new upstream joint venture company, combining selected assets and expertise to strengthen regional production capabilities. The partnership aims to optimise operations, share technical knowledge, and enhance resilience in navigating the evolving energy transition landscape.
Collectively, these three developments highlight PETRONAS’ transformation journey as it adapts to shifting market dynamics while balancing hydrocarbons with lower-carbon solutions. By pursuing diversified upstream projects and LNG expansion, the company is reinforcing supply security, operational resilience, and its role as a competitive player in global energy.
As the global energy system undergoes significant structural change, PETRONAS’ latest moves signal its determination to maintain a strong, adaptive, and opportunity-driven portfolio—positioning the company to deliver value in both traditional and emerging energy segments.
