KUCHING: The state government yesterday signed a term sheet with PETRONAS for a 10 percent equity participation in PETRONAS Liquified Natural Gas (LNG) 9 Sdn Bhd (PL9SB) that owns the ninth LNG production train (Train 9) in Bintulu.
Present to witness the signing ceremony at Wisma Bapa Malaysia in Petra Jaya here was Chief Minister, Datuk Patinggi (Dr) Abang Johari Tun Openg. Representing the state government was the State Financial Secretary, Dato Sri Ahmad Tarmizi Sulaiman while PETRONAS was represented by its Senior Vice President of Corporate Strategy, Ir M Firouz Asman.
In a press conference held after the signing, Johari said through the collaboration with PETRONAS, Sarawak will be able to participate in the production of LNG 9 as mentioned by the late Pehin Sri Adenan Satem.
“PETRONAS has taken into consideration the state’s interest in the downstream activities in Sarawak. We have already participated in LNG 1, LNG 2 and LNG 3.
“Through this signing also, it is part of our successful negotitation with PETRONAS and we definitely will work in other areas as well,” said Johari. With a production capacity of 3.6 million tonnes per annum (MTPA), Train 9 started its commercial operations in January 2017 and since then, it has boosted the total output capacity of the PETRONAS LNG Complex to 30 MTPA.
Also present during the signing were Deputy Chief Minister, Tan Sri Datuk Amar James Jemut Masing, State Secretary, Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani, Minister of International Trade and E-Commerce, Dato Sri Wong Soon Koh and Chief Executive Officer (CEO) and President of PETRONAS, Tan Sri Wan Zulkiflee Wan Ariffin.
Meanwhile, at the same venue, a Memorandum of Understanding (MoU) was signed between Hubline Berhad and PETRONAS Chemicals Marketing (Labuan) Group (PCML) to provide dry bulk and liquid chemical logistics services to complement PCML logistics business.
This will be the first time where a state-based transport company will work with PETRONAS in transporting downstream products to the market. Later in a press conference, Executive Chairman and NonIndependent Director of Hubline Berhad, Ibrahim Haji Baki said that the MoU would be effective immediately until the next five years.
Within this period of time, major shipping of products will be undertaken especially as a support service to PETRONAS in the downstream market. With a 20-year experience, Hubline has a fleet of 25 sets of tugs and barges that are fully deployed and servicing the niche South East Asia dry bulk market.
Its routes include ports in Indonesia, Vietnam, Thailand, Singapore and the Philippines. The company also plans to tap into the proposed methanol plant in Bintulu and also extends their routes to more countries such as Japan.
Ibrahim accompanied by Hubline Berhad Vice President, Dato Richard Wee represented his company in the signing while PCML was represented by PCML CEO, Shamsairi M Ibrahim and PCML Head Supply and Distribution, Normah Basri.
