Petronas, SMJ Energy partner on Sabah LNG facility

Petroliam Nasional Berhad (PETRONAS), through its subsidiary PETRONAS LNG Sdn. Bhd. (PLSB), signed a Heads of Agreement (HoA) with SMJ Energy Sdn. Bhd (SMJ Energy) to formalise the terms for a 25% equity participation of SMJ Energy in PFLNG 3 Sdn. Bhd.

This marks a significant step forward in strengthening PETRONAS’ long-standing partnership with the Sabah State Government and the responsible development of resources in the state.

The agreement was signed by SMJ Energy CEO Datuk Dr. Dionysia Aloysius Kibat and PLSB CEO Shamsairi M Ibrahim, in the presence of Sabah Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik.

PFLNG 3 Sdn. Bhd. is the project company developing the upcoming shore-based floating liquefied natural gas (LNG) facility, which will be located in Sipitang Oil & Gas Industrial Park (SOGIP), Sabah.

The proposed equity acquisition will be implemented via definitive agreements to be finalised following the HoA.

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ALCHEMPro News Desk (HU)