Malaysia's national oil company, Petroliam Nasional Berhad (Petronas), has set up a wholly-owned subsidiary in the Dishui Lake Financial Bay within Shanghai's Lin-gang Special Area.

The Dishui Lake Financial Bay in Lin-gang Special Area, Shanghai. [Photo/lingang.gov.cn]

The move marks Petronas' first China-based entity dedicated exclusively to liquefied natural gas (LNG) operations, further strengthening Lin-gang's emerging international energy trading ecosystem.

As Malaysia's sole national oil company, Petronas operates in more than 50 countries and regions, with its operations covering exploration and production, transportation and storage, and other key sectors.

Leveraging its technical capabilities, global operational expertise, and commitment to sustainability, Petronas has secured a prominent position in the international energy market while driving the industry's low-carbon transition and sustainable development.

With LNG imports and domestic distribution as its main focuses, the Shanghai subsidiary will provide reliable, low-carbon energy solutions to customers, aligning with the nation's vision for a low-carbon future.

The Lin-gang Special Area Administration offered comprehensive support throughout the establishment process. Moving forward, the Dishui Lake Financial Bay in Lin-gang will leverage its strengths in cross-border financial services to help companies establish cross-border cash pools and international platforms.