PETRONAS Tackles Malaysia’s Gas Problems as Net Rises


Dateline 2011-12-01:

Petroliam Nasional Bhd., Malaysia’s state oil company, announced plans to tackle the Southeast Asian nation’s gas supply shortage as it reported a 48 percent jump in quarterly profit.

The Kuala Lumpur-based group, which manages all the country’s energy reserves, will build a fourth gas import terminal and a second floating liquefied natural gas plant, Chief Executive Officer Shamsul Azhar Abbas told reporters today. It also agreed to partially absorb extra costs incurred by power producer Tenaga Nasional Bhd. due to supply disruptions, he said.

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