Malaysia's Sarawak state govt seeks 10 pct stake in LNG train

Malaysia's Sarawak state govt seeks 10 pct stake in LNG train

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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Link to Original Article:
http://af.reuters.com/article/energyOilNews/idAFL4N1IO2TN

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com