MOSCOW (MRC) -- Petronas has signed an agreement to sell a 10% equity interest in Petronas LNG 9 Sdn Bhd (PL9SB) to PTTGL Investment Ltd. (PTTGLI), as per Apic-online.
PL9SB, a subsidiary of Petronas, began commercial operations in January at its ninth liquefied natural gas (LNG) liquefaction train at Petronas' LNG complex in Bintulu, Sarawak, Malaysia.
The 3.6-million-t/y state-of-the-art train increased ca-pacity at the Petronas LNG complex to approximately 30-million t/y.
Following PTTGLI's acquisition of a 10% stake, Petronas will own 80% of PL9SB and JX Nippon Oil & Energy will continue to hold a 10% interest, through its Nippon Oil Finance subsidiary.
PTTGLI is a subsidiary of PTT Global LNG Co. Ltd., which is a 50-50 joint venture of PTT Public Co. Ltd. (PTT) and PTT Exploration and Production Public Co. Ltd.
Petronas LNG Ltd. (PLL) and PTT signed a LNG sale and purchase agreement in May, under which PLL will deliver up to 1.2-million t/y of LNG to PTT for a period of 15 years until 2031.
As MRC wrote previously, Petronas said in early 2017 that its new USD27 billion refining and petrochemical complex project in the southeast Asian country is on track for start-up in 2019. Petronas plans to build a C6-based metallocene linear LDPE plant and a low density polyethylene (LDPE)/ethylene vinyl acetate (EVA) swing plant at its greenfield integrated refinery and petrochemical complex in southern Johor state by mid-2019. The proposed metallocene LLDPE will have a capacity of 350,000 tpa, while the LDPE/EVA will have a capacity of about 150,000 tpa. The two plants are part of Petronas' planned Refinery and Petrochemical Integrated Development project in Pengerang at Johor.
Petronas, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company wholly owned by the Government of Malaysia. The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.
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