Photo taken on Oct. 15, 2019 shows the Petronas Twin Towers being silhouetted against the rising sun in Kuala Lumpur, Malaysia. Kuala Lumpur is the capital and largest city of Malaysia. Developing from a tin-mining town, the city is now widely recognised for numerous landmarks, including the Petronas Twin Towers. The combination of skyscrapers and historical sites and the harmonious coexistence of diversified cultures add to the city a special charm of its own. (Photo by Chong Voon Chung/Xinhua)

Malaysia's state-owned oil and gas giant Petronas vowed that it will continue to ensure safe and reliable energy supply in China with innovative solutions for the "dual carbon" goals.

Tengku Muhammad Taufik, president of Petronas made such remarks at the celebration to mark Petronas' 18th year anniversary in China.

"I am looking forward to working with Chinese partners to actively help China achieve its goal of carbon peaking and carbon neutrality," he said. 

In 2021, the growing point of PCM (China) Co includes selective entry into new fields of derivatives and specialty chemicals and expansion of technical cooperation and partnerships with local Chinese counterparts, according to the company.

Entered into China in 2003, Petronas has five offices and two production bases such as in Beijing, Shanghai, and Guangzhou. It supplies liquefied natural gas (LNG), petrochemical products, crude oil, petroleum products and lubricants to the Chinese market.

In July of this year, Petronas LNG, a subsidiary of Petronas secured a 10-year term deal to supply LNG to CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC).

The deal is for 2.2 million tons per annum for a 10-year period, and the term deal is valued at approximately $7 billion over ten years. 

As early as in 2006, Petronas had a 25-year LNG supply agreement for over three million tons per annum with Shanghai LNG Co which is 45 percent owned by CNOOC.

China is diversifying its LNG imports. In November, China's state-owned oil giant Sinopec Corp signed a contract with the US' Venture Global LNG to buy 4 million tons of LNG annually for 20 years, the largest long-term LNG deal ever signed between China and the US.