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Malaysia's Sarawak State Govt Seeks 10% Stake In LNG Train

Source: Reuters 5/22/2017, Location: Asia

Malaysia's Sarawak state government said it is negotiating with Petroliam Nasional Berhad to acquire a 10 percent equity stake in a liquefied natural gas(LNG) production facility at Petronas' LNG complex in Bintulu, Sarawak.

The government is looking to buy a stake in the LNG Train 9 facility, the site's ninth liquefaction unit, which can produce 3.6 million tonnes of LNG per year. It began its commercial operations in January, boosting production capacity at the Petronas LNG complex to 30 million tonnes per year.

"The Sarawak government is actively negotiating with Petronas on the details of the shareholders agreement on the 10 percent equity in the Malaysia Liquefied Natural Gas (MLNG) Plant Train 9," Abang Johari, the chief minister of Sarawak, said in a speech on Monday.

"We are also working with Petronas for a larger equity in MLNG 2 plant."

Other stakeholders in LNG Train 9 include JX Nippon Oil & Energy Corp, a unit of Japan's biggest oil refiner JX Holdings. JX Nippon acquired a 10 percent equity stake in the Petronas subsidiary that owns LNG Train 9 last June.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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