Petronas Gas: RM4.5b capex for next 5 years

June 4, 2016

Now, how would I capitalize on downstream activities?

Dateline 2016-04-27, The Sun:

Petronas Gas Bhd (PGB) has allocated RM4.5 billion in capital expenditure (capex) for the next five years, said its chairman Tan Sri Shamsul Azhar Abbas.

“We are continuously looking for growth projects…we will continue to maintain our capex kind of expense to the tune of about RM300 million a year and for the next five years, our capex is going to be in the region of RM4.5 billion, mainly to cater for the growth projects,” he told reporters after its AGM yesterday.

Shamsul said the two major growth projects that it is involved in are the LNG Regasification Terminal (RGT) and the Air Separation Unit (ASU) project, both of which are located in Pengerang.

He said the RGT project is now at 25% progress on ground and the first storage tank should be commissioned before the end of 2017 while the second tank, which will complete the whole project, will be commissioned by the first quarter of 2018.

The group also aims to enter into its final investment decision for the ASU project by the second quarter of this year. The ASU is being built to cater for the requirements of the Petronas Refinery and Petrochemical Integrated Development (Rapid) project.

“Those are the two major projects as far as growth is concerned. You may notice that in terms of capex requirement, we have undertaken a loan of US$500 million (RM1.95 billion) from Mizuho Bank earlier this year. The bulk of that loan is going to cater for these growth projects and the rest will be reserved for maintenance capex.


Petronas Gas FY15 earnings up 7.8% to nearly RM2b

April 10, 2016

Dateline 2016-02-24, The Star:

Petronas Gas Bhd earnings rose to nearly RM2bil in the financial year ended Dec 31, 2015 boosted by a one-off recognition of deferred tax asset (DTA) while it expects its agreements and utilities to underpin its steady performance for 2016.

It announced a dividend of 17 sen per share compared with 15 sen a year ago. For FY15, the total dividends were 60 sen compared with 55 sen a year ago.

Petronas Gas said it expected a challenging economic environment. However, it envisaged its steady performance to continue, backed by its solid business models under gas processing agreement, gas transportation agreements and regasification service agreement signed with its parent, Petroliam Nasional Bhd.


Terminates pact to develop regasification plant in Sabah

April 2, 2016

Dateline 2016-02-11, Nikkei Asean Review:

Petronas Gas and Sabah Energy Corporation have mutually terminated a pact to jointly develop a liquefied natural gas project in the Malaysian state of Sabah.

“In view of the prolonged uncertainty of the regasification terminal Lahad Datu Project, the parties to the Shareholders Agreement have mutually agreed to terminate the said SHA effective 10 February 2016,” Petronas Gas said in a stock exchange filing.

In September 2013, Petronas Gas, which processes natural gas and operates pipelines in Malaysia, had offered Sabah Energy to acquire up to a 20% equity stake in the project.  The estimated 0.76 million metric ton per year plant was scheduled to start operation last year but a violent insurgency in 2013 led to an indefinite suspension of the project.

Petronas Gas Q2 Pre-Tax Profit Falls To RM527.10 Mln

September 4, 2015

Dateline 2015-08-04, Malaysia Reserve:

Petronas Gas Bhd’s pre-tax profit for the second quarter ended June 30, 2015, fell to RM527.10 million from RM578.92 million in the corresponding quarter of 2014.

Revenue declined to RM1.08 billion from RM1.10 billion previously due to lower utilities revenue.

In a filing to Bursa Malaysia, Petronas Gas said the lower revenue was due to electricity tariff rebate effective March 1, 2015.

Petronas Gas expected its 2015 performance for gas processing, gas transportation and regasification segments to remain stable.

 


PGB records RM1.7b profit after tax

June 18, 2015

Dateline 2015-04-30, NST Online:

Petronas Gas Bhd (PGB) recorded profit after tax of RM1.7 billion despite declining crude oil prices, ringgit depreciation and a challenging economy.

Its chairman Datuk Manharlal Ratilal said 2014 was a strong year for the company in terms of performance and revenue.

“Overall, 2014 was a strong year for PGB as it has generated RM4.4 billion in revenue, a 13 per cent or RM500 million increase from last year.

“Our market capitalization closed at RM44 billion at year end, making PGB one of the largest corporations on Bursa Malaysia. Dividend paid was 55 sen  per ordinary share.”

The improved performance was mainly attributed to its full year operation from its liquefied natural gas (LNG) Regasification Terminal in Sungai Udang, Malacca as well as Gas Transportation Agreements with Petronas.

 


Petronas Gas’ pre-tax profit and revenue up in Q1

June 12, 2015

Dateline 2015-05-12, TMI:

Petronas Gas Bhd’s pre-tax profit rose to RM571.29 million for the first quarter ended March 31, 2015 from RM543.21 million recorded in the same period last year.

Revenue increased to RM1.1 billion from RM1.05 billion.

In a filing to Bursa Malaysia, Petronas Gas attributed the better performance to higher gas transportation and gas processing revenues, which recorded an improvement of RM26.1 million and RM21.5 million, respectively.

 


Petronas Gas reports accident at Kertih plant

August 19, 2014

PETRONAS being chatty as usual. Insiders, any insight?

Dateline 2014-06-19, The Star:

An employee of a contractor undertaking repairs at Petronas Gas Bhd’s plant in Kertih, Terengganu succumbed to his injury following an accident there on Wednesday night.

Petronas Gas said on Thursday an accident occurred at 11.15pm on Wednesday at its facility near the gas processing plant 4.

It said it was extending all necessary assistance to the family members of the victim.

“Currently, the company is working with the relevant authorities to establish the cause of the accident,” it said.