Petronas divests interest in Bintulu’s LNG 9


Dateline 2017-07-28, Borneo Post:

Petronas has signed an agreement with PTTGL Investment Ltd (PTTGLI) for PTTGLI’s equity participation of a 10 per cent equity interest in Petronas LNG 9 Sdn Bhd (PL9SB) in Bintulu.

PL9SB, a subsidiary of Petronas, owns the ninth LNG liquefaction train (Train 9) in the Petronas LNG Complex in Bintulu, Sarawak.

PTTGLI is a subsidiary of PTT Global LNG Company Ltd (PTTGL) which is a 50:50 joint venture company between PTT Public Company Ltd (PTT), Thailand’s state-owned oil and gas company, and PTT Exploration and Production Public Company Ltd (PTTEP).

With a production capacity of 3.6 million tonnes per annum (mpta), Train 9 started its commercial operations in quarter one of this year, boosting the total output capacity of the Petronas LNG Complex to 30 mtpa.

Following PTTGLI’s 10 per cent participation, Petronas now owns 80 per cent share in PL9SB, while the remaining 10 per cent is owned by JXTG Nippon Oil & Energy Corporation through its subsidiary, Nippon Oil Finance (Netherlands) BV.

 

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