Petroliam Nasional Bhd (Petronas) has secured a stake in one of the world's largest gas fields in Turkmenistan following an agreement signed with the Turkmen government during Prime Minister Datuk Seri Anwar Ibrahim's official visit from June 18 to 20, 2026 [1, 2, 3, 4, 5, 6]. Anwar described the deal as "an extraordinary achievement that places Petronas among the owners of the world's largest gas fields here in Turkmenistan," and said it elevates Malaysia's position in the global energy landscape [1, 7].
Petronas will lead the development of two major gas blocks in Turkmenistan, expanding on nearly 30 years of its longstanding operations in the country [7, 4, 8, 6]. The agreement aims to address future domestic gas supply shortages and boost Petronas' capacity to export gas long-term to markets such as Japan, South Korea, China, and Australia [1, 3, 9, 8]. Anwar linked the success partly to Malaysia’s balanced foreign policy engaging both Eastern and Western countries diplomatically [6].
The deal followed up on President Serdar Berdimuhamedov's visit to Malaysia in December 2024, when Petronas sought recognition as a key pillar in Turkmenistan’s oil and gas sector [1, 3, 6]. Petronas’ proposals included technology transfer and training collaborations through Universiti Teknologi Petronas and the Malaysian Technical Cooperation Program, which helped convince Turkmen leadership [1, 3].
Anwar attended the Turkmenistan-Malaysia Forum on June 20 marking 30 years of bilateral oil and gas cooperation and said he was "relieved and grateful because this is part of our continuing historical achievement" [3, 8]. He expressed confidence the agreements will bring significant revenue to Petronas and open doors for broader bilateral ties beyond energy into tech, AI, semiconductors, and research [1, 3, 7, 6].
The expanded cooperation also covers education, diplomatic training, aviation, science, and human capital development [2, 5]. Negotiations between Petronas and Sarawak energy company Petros to enhance cooperation in the Malaysian energy sector are reported to be progressing positively as of June 21, 2026 [10]. Analysts at CIMB Securities and Kenanga Research note that sustained crude oil prices around US$75-$85 per barrel support Petronas’ investment capacity and project economics [11, 12].
