Dateline 2012-06-05:
Petronas has approved plans to build a floating liquefied natural gas (LNG) plant offshore Malaysia and aims to bring it online in 2015, which, if it were successful, would make it the first such plant in the world.
Petronas’ main competitor in the race to bring the first floating LNG plant online is oil major Royal Dutch Shell which approved its Prelude LNG floating plant last year and has said it intends to bring the plant online by 2017.
The floating LNG plant will allow Petronas to drill and ship gas from fields that were either too small or too remote to be profitable previously, CEO Shamsul Azhar Abbas said at a gas industry gathering in Kuala Lumpur on Monday.
“This is an example where advancement of technology has made it economically feasible to monetise stranded gas in small and scattered conventional fields,” Shamsul said of the project.
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Wata - Malaysian Oil and Gas Engineer 