March 4, 2018
Dateline 2018-01-16, Nasdaq:
Malaysian energy firm Petroliam Nasional Berhad, or Petronas, said the Sarawak state government will take an equity stake in one of its liquefied natural gas (LNG) production facilities.
The state government has signed a term sheet with Petronas for an equity participation in LNG Train 9 at the company’s LNG complex in Bintulu, Sarawak, Petronas said in a statement on Monday.
Sarawak will take a 10 percent equity stake, according to state news agency Bernama.
December 29, 2016
Dateline 2016-11-21, Borneo Post:
A Bintulu boy has been leading Malaysia LNG Group of Companies (MLNG) since last April.
For Pau Kiew Huai, pushing an ageing plant to produce a world-class performance is a massive challenge for Petronas subsidiary MLNG, which manages and operates the Petronas LNG Complex (PLC).
But sustaining the company’s financial performance under the duress of a prolonged oil and LNG price slump is something Pau Kiew Huai and his 1,500-strong team must deliver.
When Pau was appointed to the post, the global oil price was below USD30 per barrel. Hence, it was an appointment very few people would envy.
But Pau viewed the challenges as opportunities to prove that the impossible is possible.
His experience as an engineer at MLNG will come in handy. It taught him to be self reliant, disciplined and committed.
November 27, 2016
Hibiscus or CLIQ in the bidding?
Dateline 2016-10-14, The Star:
Royal Dutch Shell Plc is considering a sale of its stake in a Malaysian liquefied natural gas export plant, which could fetch more than $1 billion, people familiar with the matter said.
The Anglo-Dutch energy giant is gauging interest in its 15 percent stake in MLNG Tiga Sdn., which owns an LNG terminal in Sarawak on the island of Borneo, according to the people.
Malaysia’s state-owned Petroliam Nasional Bhd., which holds 60 percent of MLNG Tiga, has pre-emptive rights on the stake, one of the people said, asking not to be identified as the process is private.
The sale may draw interest from private-equity firms, the people said. MLNG Tiga, set up in 1995, is the third plant to be built in the Petronas LNG complex in Bintulu, Sarawak, according to its website.
September 26, 2015
Dateline 2015-08-25, The Star:
Petroliam Nasional Bhd (Petronas) will benefit from its takeover of Shell’s 50% interest in the MLNG Dua liquefied natural gas (LNG) plant as the deal will enable the Malaysian national oil and gas producer to better match domestic gas production with regional LNG demand, BMI Research says.
“With Petronas and its subsidiaries now becoming the operator of the project, we see this development as a positive for the firm as it will allow it to consolidate its operations in Sarawak and aid its efforts in developing the region as a gas hub,” BMI Research, a global financial information services company, said.
“By taking control of MLNG Dua, Petronas will have better control over the gas production and export in the Sarawak region and will be able to better match gas production with regional LNG demand,” it added.
September 24, 2015
Dateline 2015-08-21, Reuters:
Royal Dutch Shell unit Sarawak Shell Bhd has transferred its 50 percent stake as operator of the MLNG Dua liquefied natural gas (LNG) plant to Malaysian state oil firm Petroliam Nasional Bhd (Petronas) , Petronas said on Friday.
The Petronas statement did not give further details or any value attached to the move.
Petronas’ subsidiaries now wholly own the operator of the LNG producer in the Borneo state of Sarawak in Malaysia, according to a statement by Petronas. Shell operated MLNG Dua via a production sharing contract signed with Petronas since 1993.
January 21, 2015
Dateline 2014-11-15, The Malaysian Insider:
Datuk Seri Najib Razak (pic) has assured Sabah that it would continue to get more revenue from its oil and gas resources.
The prime minister said apart from the oil and gas royalty of five per cent, Sabah was also given a 10% stake in Petronas LNG Train 9 Sdn Bhd in Bintulu, Sarawak, which would generate an additional revenue to the state and its people.
“That is why I had said, you can make a request, but let us negotiate and we have a formula that Sabah would receive more from the oil and gas revenue. This has been clarified by chief minister Datuk Musa Aman,” he said when opening the Pasokmomogun Kadazandusun Murut Organisation (UPKO) Convention in Kota Kinabalu, today.
June 30, 2012
First? You mean there’s a second?
Malaysia’s first liquefied natural gas (LNG) re-gasification facility, developed by Petronas gas processing and transmission arm, Petronas Gas Bhd (PGB), has reached mechanical completion stage.
In a statement today, PGB said it was currently progressing ahead with the preparation to commission the project for commercial operation scheduled for August.
The project, known as Re-gasification Terminal, is located in Sungai Udang, Melaka.