PETRONAS signs equity deal with SMJ Energy
Published by Jessica Casey,
Editor
LNG Industry,
Petroliam Nasional Berhad (PETRONAS), through its subsidiary PETRONAS LNG Sdn. Bhd. (PLSB), has signed a heads of agreement (HoA) with SMJ Energy Sdn. Bhd to formalise the terms for a 25% equity participation of SMJ Energy in PFLNG 3 Sdn. Bhd.
This marks a significant step forward in strengthening PETRONAS’ long-standing partnership with the Sabah State Government and the responsible development of resources in the state.
The agreement was signed by SMJ Energy CEO, Dr Dionysia Aloysius Kibat, and PLSB CEO, Shamsairi M Ibrahim, in the presence of Sabah Chief Minister, Seri Panglima Haji Hajiji Haji Noor, and PETRONAS President and Group CEO, Tan Sri Tengku Muhammad Taufik.
PFLNG 3 Sdn. Bhd. is the project company developing the upcoming shore-based floating LNG facility, which will be located in Sipitang Oil & Gas Industrial Park (SOGIP), Sabah, Malaysia.
The proposed equity acquisition will be implemented via definitive agreements to be finalised following the HoA.
Read the article online at: https://www.lngindustry.com/floating-lng/18072025/petronas-signs-equity-deal-with-smj-energy/
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