Petronas comes aboard Pengerang LNG project

Petronas comes aboard Pengerang LNG project

Kuala Lumpur: Petronas has bought into Dialog’s Pengerang LNG (Two) project.

With the subscription of 780,000 ordinary shares of RM1.00 each for cash consideration of RM780,000 by Petronas, representing 72.22% of the initial issued and paid-up share capital of PLNG-2 of RM1,080,000, PLNG-2 has ceased to be a subsidiary of Dialog. Dialog now holds 27.78% in PLNG-2.

PLNG-2 will developLNG regasification facilities comprising of a regasification unit and two units of 200,000 cu m LNG storage tanks with an initial send out capacity of 3.5m tonnes per annum.  [16/12/14]