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PETRONAS AND PARTNERS SIGN AGREEMENTS TO SELL ENTIRE OUTPUT OF EGYPTIAN LNG’S SECOND TRAIN
PETRONAS, together with its partners of Train 2 of the Egyptian LNG (ELNG) Project concluded two Sale and Purchase Agreements (SPAs) to sell the entire 3.6 million tonnes per year (MTPA) liquefied natural gas (LNG) output of the train to BG Gas Marketing Ltd, a subsidiary of the British Gas (BG) Group.
Train 2, which is co-owned by PETRONAS, BG Group, Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS), is scheduled to start commercial operations in 2006. The buyer of the output, BG Gas Marketing, intends to initially supply the LNG to the US market.
With the signing of the SPA, which took place in Cairo, the entire LNG production output from both Train 1 and 2 of the ELNG Project has been committed to buyers. Late last year, a SPA was signed for the sale of the 3.6 MTPA production output of Train 1 to Gaz de France. Train 1, whose owners are PETRONAS, BG Group, EGPC, EGAS and Gaz de France, is slated to come on stream in the second half of 2005. (more…)
PETRONAS AND PARTNERS SIGN AGREEMENTS TO SELL ENTIRE OUTPUT OF EGYPTIAN LNG’S SECOND TRAIN
PETRONAS, together with its partners of Train 2 of the Egyptian LNG (ELNG) Project concluded two Sale and Purchase Agreements (SPAs) to sell the entire 3.6 million tonnes per year (MTPA) liquefied natural gas (LNG) output of the train to BG Gas Marketing Ltd, a subsidiary of the British Gas (BG) Group.
Train 2, which is co-owned by PETRONAS, BG Group, Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS), is scheduled to start commercial operations in 2006. The buyer of the output, BG Gas Marketing, intends to initially supply the LNG to the US market. (more…)
PETRONAS BECOMES OFFICIAL FUEL SPONSOR FOR 22nd SEA GAMES
Hanoi, September 22, 2003: PETRONAS, Malaysia’s national petroleum corporation, today announced its participation as the official fuel sponsor for the 22nd SEA Games which will take place in Vietnam from 5th to 13th December 2003.
The announcement was made at a sponsorship hand-over ceremony held at the Melia Hotel here by Dr Luong Quoc Dung, Deputy Chairperson of the Committee for Sports & Gymnastics and Head of the Sub-committee for Sponsorship of the SEA Games Organizing Board. PETRONAS’ contribution was handed over by its President & Chief Executive Officer Tan Sri Dato Sri Mohd Hassan Marican. Also present at the ceremony were senior officials from the SEA Games Organizing Board and representatives of PETRONAS. (more…)
PETRONAS BECOMES OFFICIAL FUEL SPONSOR FOR 22nd SEA GAMES
Hanoi, September 22, 2003: PETRONAS, Malaysia’s national petroleum corporation, today announced its participation as the official fuel sponsor for the 22nd SEA Games which will take place in Vietnam from 5th to 13th December 2003.
The announcement was made at a sponsorship hand-over ceremony held at the Melia Hotel here by Dr Luong Quoc Dung, Deputy Chairperson of the Committee for Sports & Gymnastics and Head of the Sub-committee for Sponsorship of the SEA Games Organizing Board. PETRONAS’ contribution was handed over by its President & Chief Executive Officer Tan Sri Dato Sri Mohd Hassan Marican. Also present at the ceremony were senior officials from the SEA Games Organizing Board and representatives of PETRONAS. (more…)
PETRONAS SIGNS NEW PSC FOR BARAM DELTA WITH PETRONAS CARIGALI AND SARAWAK SHELL
PETRONAS today signed a new Production Sharing Contract with PETRONAS Carigali Sdn Bhd and Sarawak Shell Bhd for Baram Delta offshore Sarawak following the expiry of the PSC awarded in 1988.PETRONAS Carigali holds a 60 per cent equity interest in the new PSC and continues as the operator while Sarawak Shell holds the remaining 40 per cent interest. The PSC covers the Delta’s Bakau, Baram, Baronia, Betty, Bokor, Fairley Baram, West Lutong, Tukau and Siwa oil fields. In addition, three undeveloped small nearby discoveries namely Baronia Timur Laut, Fatimah and Tanjung Baram will also come under the PSC terms to take advantage of the close proximity and the existence of oil and gas infrastructure in the area.
Under the new PSC, Sarawak Shell will deploy cutting edge technologies and worldwide experience to increase oil field recovery factors as well as to extend the life of the aging oil and gas facilities in the Baram Delta. These work commitments and new investments will add significant oil reserves and increase oil production capacity in the Baram Delta. It will also provide the opportunity for PETRONAS to acquire the necessary knowledge and ensure effective transfer of technology. (more…)
PETRONAS SIGNS NEW PSC FOR BARAM DELTA WITH PETRONAS CARIGALI AND SARAWAK SHELL
PETRONAS today signed a new Production Sharing Contract with PETRONAS Carigali Sdn Bhd and Sarawak Shell Bhd for Baram Delta offshore Sarawak following the expiry of the PSC awarded in 1988.PETRONAS Carigali holds a 60 per cent equity interest in the new PSC and continues as the operator while Sarawak Shell holds the remaining 40 per cent interest. The PSC covers the Delta’s Bakau, Baram, Baronia, Betty, Bokor, Fairley Baram, West Lutong, Tukau and Siwa oil fields. In addition, three undeveloped small nearby discoveries namely Baronia Timur Laut, Fatimah and Tanjung Baram will also come under the PSC terms to take advantage of the close proximity and the existence of oil and gas infrastructure in the area. (more…)