Petronas, SMJ Energy partner on Sabah LNG facility
Petronas, through its unit Petronas LNG Sdn Bhd, signed a Heads of Agreement with SMJ Energy for a 25 per cent equity stake in PFLNG 3 Sdn Bhd, the company developing a shore-based floating LNG facility at Sabah's Sipitang Oil & Gas Industrial Park. The deal strengthens Petronas' partnership with the Sabah government. Definitive agreements will follow the HoA.
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. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
ALCHEMPro News Desk (HU)
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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. Petronas, through its unit Petronas LNG Sdn Bhd, signed a Heads of Agreement with SMJ Energy for a 25 per cent equity stake in PFLNG 3 Sdn Bhd, the company developing a shore-based floating LNG facility at Sabah's Sipitang Oil & Gas Industrial Park. The deal strengthens Petronas' partnership with the Sabah government. Definitive agreements will follow the HoA. 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. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
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