Latest news with #HajijiNoor
The Star
5 hours ago
- Business
- The Star
Sabah to acquire 25% equity in PETRONAS ZLNG facility
The HoA was signed by SMJ Energy CEO Datuk Dr. Dionysia Aloysius Kibat (second from right) and PLSB CEO Shamsairi M Ibrahim (fifth from right), in the presence of Sabah Chief Minister Chief Minister Datuk Seri Hajiji Noor (third from right) and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik (fourth from right). KOTA KINABALU: The Sabah government, through SMJ Energy Sdn Bhd has signed a head of agreement (HoA) with Petronas LNG Sdn Bhd to acquire 25 per cent equity stake in the US$3.1 billion (RM13.17 billion) nearshore floating liquefied natural gas (ZLNG) facility in Sipitang. The ZLNG, currently under construction, is expected to commence operations in the second half of 2027. Chief Minister Datuk Seri Hajiji Noor said the partnership marks another significant milestone in advancing Sabah's long-term development goals, which include promoting industrial growth, enhancing energy security, and creating new opportunities to drive the state's progress. "Through strategic investments such as ZLNG, we will strengthen the state's economic resilience while ensuring that the benefits of Sabah's natural resources directly contribute to the well-being of our people,' he said in a statement today. Hajiji and Petroliam Nasional Bhd (Petronas) group president and chief executive officer Tan Sri Tengku Muhammad Taufik witnessed the signing of the HoA at the Malaysia Petroleum Club today. The Chief Minister noted that the ZLNG facility with a capacity of two million tonnes per annum (MPTA), represents a significant addition to Malaysia's LNG landscape. He said the project complements Sabah's growing LNG footprint, alongside two other floating LNG facilities - PFLNG1 (1.2 MTPA) and PFLNG2 (1.5 MTPA) - currently operating in Sabah waters. The state government also announced its intention to acquire a 40 per cent participating interest in PFLNG1 through SMJ Energy, with due diligence scheduled to begin in the second half of 2025. He said SMJ Energy's growth trajectory since the signing of the commercial collaboration agreement (CCA) with Petronas in December 2021 has been rapid. The company now holds 50 per cent equity stake in the Samarang production sharing contract (PSC) oil production asset, 10 per cent equity in LNG9, 25 per cent equity in the Sabah Ammonia Urea (SAMUR) petrochemical complex, and full ownership of Sabah International Petroleum (SIP), which operates both Floating Production Storage and Offloading (FPSO) and floating storage and offloading (FSO) assets. SMJ Energy also holds free carry and back-in rights in exploration blocks SB409 (20 per cent), SB403 (20 per cent), SB306A (15 per cent) and SB306B (15 per cent). Meanwhile, SMJ Energy chief executive officer Datuk Dr Dionysia Kibat said: "We are a prudent financial investor with a disciplined approach to portfolio building. Our entry into ZLNG is part of our strategic plan to further diversity and strengthen our position in the upstream, LNG, and petrochemical sectors. "This opportunity aligns with our mandate to generate a long-term, stable cash flows from high-quality, cash-generating assets,' she said. Sabah's downstream ambitions are also advancing rapidly. Sabah Energy Corporation (SEC), the state's gas aggregator and distributor, plays a crucial role in ensuring a stable domestic gas supply for Sabah's industries. One of the landmark projects involves supplying gas to E-Steel's RM31 billion green steel plant at the Sipitang Oil and Gas Industrial Park (SOGIP), a key investment supporting Sabah's move toward industrial diversification. - Bernama
New Straits Times
5 hours ago
- Business
- New Straits Times
Sabah to buy 25pct stake in Petronas ZNLG facility
KUALA LUMPUR: Sabah government, through SMJ Energy, will be acquiring a 25 per cent stake in the US$3.1 billion nearshore floating liquefied natural gas (ZLNG) facility in Sipitang. The company signed the head of agreement (HOA) with Petronas at the Malaysia Petroleum Club here today. "This partnership marks another significant milestone to ensure Sabah's long-term development goals, promoting industrial growth and energy security and creating new opportunities to drive Sabah's progress. "Through strategic investments like ZLNG, we will strengthen the state's economic resilience while ensuring that the benefits of Sabah's natural resources directly contribute to the well-being of our people," Chief Minister Datuk Seri Hajiji Noor said in a statement after witnessing the signing. The ZLNG facility with a capacity of two million tonnes per annum (mtpa) represents a significant addition to Malaysia's LNG landscape. Positioned nearshore in Sipitang, ZLNG is currently under construction and is expected to commence operations in the second half of 2027. The project complements Sabah's growing LNG footprint, in addition to two other floating LNG facilities, PFLNG1 (1.2 mtpa) and PFLNG2 (1.5 mtpa), currently operating in Sabah waters. The state government also announced its intention to acquire a 40 per cent participating interest in PFLNG1 through SMJ Energy, with due diligence targeted to begin in the second half of 2025. SMJ Energy's growth trajectory since the signing of the commercial collaboration agreement with Petronas in December 2021 has been rapid. The company now holds 50 per cent equity in the Samarang PSC oil production asset, 10 per cent equity in LNG9, 25 per cent equity in the Samur petrochemical complex and full ownership of Sabah International Petroleum, which operates both FPSO and FSO assets. SMJ Energy also holds free carry and back-in rights in exploration blocks SB409 (20 per cent), SB403 (20 per cent), SB306A (15 per cent) and SB306B (15 per cent). "We are a prudent financial investor with a disciplined approach to portfolio building. "Our entry into ZLNG is part of our strategic plan to further diversify and strengthen our position in the upstream, LNG and petrochemical sectors," it said.
New Straits Times
5 hours ago
- Business
- New Straits Times
Sabah to acquire 25pct stake in ZLNG facility
KUALA LUMPUR: The Sabah government, through SMJ Energy (SMJE), will be acquiring a 25 per cent equity stake in the USD3.1 billion nearshore floating liquefied natural gas (ZLNG) facility in Sipitang. The state-owned company signed the Head of Agreement (HOA) with Petronas at the Malaysia Petroleum Club (MPC) today. "This partnership marks another significant milestone in ensuring Sabah's long-term development goals, promoting industrial growth, energy security, and creating new opportunities to drive the state's progress. "Through strategic investments like ZLNG, we will strengthen the state's economic resilience while ensuring that the benefits of Sabah's natural resources directly contribute to the well-being of our people," Chief Minister Datuk Seri Hajiji Noor said in a statement after witnessing the HOA signing. The ZLNG facility, with a capacity of two million tonnes per annum (MTPA), represents a major addition to Malaysia's LNG landscape. Positioned nearshore in Sipitang, the ZLNG facility is currently under construction and is expected to commence operations in the second half of 2027. This project complements Sabah's growing LNG portfolio, alongside two other floating LNG facilities, PFLNG1 (1.2 MTPA) and PFLNG2 (1.5 MTPA), currently operating in Sabah waters. The state government also announced its intention to acquire a 40 per cent participating interest in PFLNG1 through SMJ Energy, with due diligence expected to begin in the second half of 2025. SMJ Energy's growth trajectory since the signing of the Commercial Collaboration Agreement (CCA) with Petronas in December 2021 has been rapid. The company now holds 50 per cent equity in the Samarang PSC oil production asset, 10 per cent equity in LNG9, 25 per cent equity in the SAMUR petrochemical complex, and full ownership of Sabah International Petroleum (SIP), which operates both FPSO and FSO assets. SMJ Energy also holds free-carry and back-in rights in the following exploration blocks: SB409 (20 per cent), SB403 (20 per cent), SB306A (15 per cent), and SB306B (15 per cent). "We are a prudent financial investor with a disciplined approach to portfolio building. Our entry into ZLNG is part of our strategic plan to further diversify and strengthen our position in the upstream, LNG, and petrochemical sectors," the company said.
Malay Mail
7 hours ago
- Business
- Malay Mail
Sabah to acquire 25pc stake in Petronas' RM13.17b ZLNG facility in Sipitang
KOTA KINABALU, July 17 — The Sabah government, through SMJ Energy Sdn Bhd has signed a head of agreement (HoA) with Petronas LNG Sdn Bhd to acquire 25 per cent equity stake in the US$3.1 billion (RM13.17 billion) nearshore floating liquefied natural gas (ZLNG) facility in Sipitang. The ZLNG, currently under construction, is expected to commence operations in the second half of 2027. Chief Minister Datuk Seri Hajiji Noor said the partnership marks another significant milestone in advancing Sabah's long-term development goals, which include promoting industrial growth, enhancing energy security, and creating new opportunities to drive the state's progress. 'Through strategic investments such as ZLNG, we will strengthen the state's economic resilience while ensuring that the benefits of Sabah's natural resources directly contribute to the well-being of our people,' he said in a statement today. Hajiji and Petroliam Nasional Bhd (Petronas) group president and chief executive officer Tan Sri Tengku Muhammad Taufik witnessed the signing of the HoA at the Malaysia Petroleum Club today. The chief minister noted that the ZLNG facility with a capacity of two million tonnes per annum (MPTA), represents a significant addition to Malaysia's LNG landscape. He said the project complements Sabah's growing LNG footprint, alongside two other floating LNG facilities — PFLNG1 (1.2 MTPA) and PFLNG2 (1.5 MTPA) — currently operating in Sabah waters. The state government also announced its intention to acquire a 40 per cent participating interest in PFLNG1 through SMJ Energy, with due diligence scheduled to begin in the second half of 2025. He said SMJ Energy's growth trajectory since the signing of the commercial collaboration agreement (CCA) with Petronas in December 2021 has been rapid. The company now holds 50 per cent equity stake in the Samarang production sharing contract (PSC) oil production asset, 10 per cent equity in LNG9, 25 per cent equity in the Sabah Ammonia Urea (SAMUR) petrochemical complex, and full ownership of Sabah International Petroleum (SIP), which operates both Floating Production Storage and Offloading (FPSO) and floating storage and offloading (FSO) assets. SMJ Energy also holds free carry and back-in rights in exploration blocks SB409 (20 per cent), SB403 (20 per cent), SB306A (15 per cent) and SB306B (15 per cent). Meanwhile, SMJ Energy chief executive officer Datuk Dr Dionysia Kibat said: 'We are a prudent financial investor with a disciplined approach to portfolio building. Our entry into ZLNG is part of our strategic plan to further diversity and strengthen our position in the upstream, LNG, and petrochemical sectors. 'This opportunity aligns with our mandate to generate a long-term, stable cash flows from high-quality, cash-generating assets,' she said. Sabah's downstream ambitions are also advancing rapidly. Sabah Energy Corporation (SEC), the state's gas aggregator and distributor, plays a crucial role in ensuring a stable domestic gas supply for Sabah's industries. One of the landmark projects involves supplying gas to E-Steel's RM31 billion green steel plant at the Sipitang Oil and Gas Industrial Park (SOGIP), a key investment supporting Sabah's move toward industrial diversification. — Bernama
Barnama
7 hours ago
- Business
- Barnama
Sabah To Acquire 25 Pct Equity In Petronas ZLNG Facility
KOTA KINABALU, July 17 (Bernama) -- The Sabah government, through SMJ Energy Sdn Bhd has signed a head of agreement (HoA) with Petronas LNG Sdn Bhd to acquire 25 per cent equity stake in the US$3.1 billion (RM13.17 billion) nearshore floating liquefied natural gas (ZLNG) facility in Sipitang. The ZLNG, currently under construction, is expected to commence operations in the second half of 2027. Chief Minister Datuk Seri Hajiji Noor said the partnership marks another significant milestone in advancing Sabah's long-term development goals, which include promoting industrial growth, enhancing energy security, and creating new opportunities to drive the state's progress. 'Through strategic investments such as ZLNG, we will strengthen the state's economic resilience while ensuring that the benefits of Sabah's natural resources directly contribute to the well-being of our people,' he said in a statement today. Hajiji and Petroliam Nasional Bhd (Petronas) group president and chief executive officer Tan Sri Tengku Muhammad Taufik witnessed the signing of the HoA at the Malaysia Petroleum Club today. The Chief Minister noted that the ZLNG facility with a capacity of two million tonnes per annum (MPTA), represents a significant addition to Malaysia's LNG landscape. He said the project complements Sabah's growing LNG footprint, alongside two other floating LNG facilities – PFLNG1 (1.2 MTPA) and PFLNG2 (1.5 MTPA) – currently operating in Sabah waters. The state government also announced its intention to acquire a 40 per cent participating interest in PFLNG1 through SMJ Energy, with due diligence scheduled to begin in the second half of 2025. He said SMJ Energy's growth trajectory since the signing of the commercial collaboration agreement (CCA) with Petronas in December 2021 has been rapid.
