logo
Petronas, SMJ Energy partner on Sabah LNG facility

Petronas, SMJ Energy partner on Sabah LNG facility

Fibre2Fashion6 days ago
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)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Petronas, SMJ Energy partner on Sabah LNG facility
Petronas, SMJ Energy partner on Sabah LNG facility

Fibre2Fashion

time6 days ago

  • Fibre2Fashion

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. 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)

Gentari seeks buyer for up to 50% stake in India arm
Gentari seeks buyer for up to 50% stake in India arm

Time of India

time20-06-2025

  • Time of India

Gentari seeks buyer for up to 50% stake in India arm

Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.

Gentari plans to offload up to 50% stake in India arm
Gentari plans to offload up to 50% stake in India arm

Time of India

time20-06-2025

  • Time of India

Gentari plans to offload up to 50% stake in India arm

Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store