Latest news with #PT2
New Straits Times
30-07-2025
- Business
- New Straits Times
Dutch energy firm Vopak expands Pengerang terminal for biofuels growth
KUALA LUMPUR: Dutch energy storage company Vopak will expand its capacity at the Pengerang Terminal (Two) Sdn Bhd (PT2) in Malaysia by 272,000 cubic metres to support the storage of biofuels feedstocks and products. In its latest financial results, Vopak said the decision is backed by a long-term take-or-pay agreement with an existing customer operating a nearby biorefinery. The new capacity will be industrially integrated with the customer's facility, creating operational synergies. The total investment for the project is EUR282 million (about RM1.46 billion), of which Vopak's share amounts to EUR72 million. The company expects the expansion to begin contributing to its operating cash flow once commissioned by mid-2028. Vopak said the move aligns with its long-term strategy to accelerate the development of infrastructure that supports the global energy transition.
New Straits Times
30-07-2025
- Business
- New Straits Times
Dialog JV inks US$330mil terminal usage deal with Pengerang Biorefinery
KUALA LUMPUR: Dialog Group Bhd's 25 per cent indirectly owned joint venture, Pengerang Terminals (Two) Sdn Bhd (PT2), has signed a terminal usage agreement with Pengerang Biorefinery Sdn Bhd. In a filing with Bursa Malaysia today, Dialog said the agreement will enable PT2 to provide storage and handling facilities for Pengerang Biorefinery's feedstocks and products. The agreement, signed on July 29, involves a US$330 million expansion at PT2's deep-water terminal in Johor to support the biorefinery's upcoming operations. The project includes the development of 272,000 cubic metres of dedicated storage capacity, with shared facilities factored into the cost. Backed by a 25-year take-or-pay agreement, the expansion will begin immediately and is scheduled for completion in the first half of 2028. "This development reinforces Dialog's midstream investments and supports its broader strategy of generating long-term recurring income," the company said. Pengerang Biorefinery is a joint venture between Petronas Mobility Lestari Sdn Bhd (42.5 per cent), Enilive SpA (42.5 per cent), a subsidiary of Italy's Eni SpA, and Japan's Euglena Co Ltd (15 per cent). The biorefinery will be capable of processing 650,000 tonnes of raw materials annually to produce sustainable aviation fuel, renewable diesel and hydrogenated vegetable oil. PT2 is jointly owned Dialog Equity (Two) Sdn Bhd (25 per cent), PRPC Utilities and Facilities Sdn Bhd, a Petronas subsidiary (40 per cent), Vopak Terminal Pengerang BV (25 per cent), and Johor state-owned Permodalan Darul Ta'zim Sdn Bhd (10 per cent). Dialog said the expansion will be funded through a mix of internally generated funds and borrowings and is not expected to have a material financial impact for the financial year ending June 30, 2026. "However, it is expected to contribute positively to the group's future earnings," it said.
