Sabah’s first nearshore LNG project reaches final investment decision

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Kota Kinabalu: Petroliam Nasional Bhd (Petronas) has reached the final investment decision (FID) for a near-shore liquefied natural gas (LNG) facility in Sabah.

The engineering, procurement, construction and commissioning contract for the project was awarded to the winner of the dual-front-end engineering design competition in October last year. Sabah Chief Minister Datuk Seri Hajiji Noor said the LNG project is a step in the right direction, as the state government continues to pursue more deals to get additional revenue via equity participation for Sabah.

Meanwhile, Adnan, who is also the executive vice-president and chief executive officer of Petronas' gas business, said that in view of the transition towards a low-carbon future, the group will continue to advocate greater use of natural gas.“The development of the facility under the Sabah Gas Masterplan will strengthen both the position of the state and Malaysia as a whole as an attractive natural gas hub, contributing to the mutual prosperity of Sabah and the nation.

 

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