KUALA LUMPUR: Malaysian state oil firm Petronas said on Saturday it will supply extra liquefied natural gas (LNG) to Japan after a massive earthquake forced the shut down of several nuclear power plants, prompting increased demand for gas.
Petronas did not say how many additional cargoes would be diverted to Japan.
Malaysia is already Japan's biggest LNG supplier, shipping it 14 million tonnes last year.
Japan, the world's top LNG buyer, may import about an extra one billion cubic feet per day to make up for nine gigawatts of nuclear power that have been lost, although traders say it is too early to tell how much more LNG would be needed
"Currently Petronas is liaising with its Japanese counterparts to supply immediate additional LNG cargoes from its LNG portfolio sources, " the firm said in a statement.
"Petronas is also working with its buyers in the Far East, who are not affected by the quake and tsunami, on possible cargoes swaps, advancements and diversions to cater for the increase in LNG requirements," the firm added.
Petronas has long-term contracts with customers in South Korea and Taiwan, supplying a sizable chunk of their domestic needs. It shipped its first LNG cargo to Japan in 1983.
Shares in Petronas' LNG shipping unit MISC surged 4.3 percent on Friday as investors bet on increased orders from Japan.
Other LNG producers in Asia and the Middle East have also offered to increase LNG supplies to Japan. Russia has said it can supply about two cargoes from its Sakhalin project and South Korea said it would supply 400,000-500,000 tonnes of the fuel.
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