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PETRONAS TO ACQUIRE STAKE IN UK’S LNG TERMINAL PROJECT
PETRONAS, Malaysia’s national petroleum corporation, has signed a Letter of Intent (LOI) with Petroplus International NV (”Petroplus”) to acquire a 30 per cent equity in Dragon LNG, a special purpose outfit established by Petroplus to develop a proposed liquefied natural gas (LNG) terminal and related facilities in Milford Haven, Wales, United Kingdom.
Under the terms of the LOI, PETRONAS, Petroplus and BG Energy Holdings Ltd (”BG”), which is a subsidiary of BG Group, will jointly develop the terminal complex to receive, store, re-gas and deliver LNG to customers. BG last month signed a Memorandum of Understanding with Petroplus to become a partner, proposing to purchase 50 per cent equity in the project.
Under the terms of the LOI, PETRONAS intends to use up to 2.2 million tonnes per annum (MTPA) of the terminal’s throughput capacity. This represents about half of the initial planned capacity of the terminal. BG intends to use the remaining throughput capacity. (more…)
PETRONAS TO ACQUIRE STAKE IN UK’S LNG TERMINAL PROJECT
PETRONAS, Malaysia’s national petroleum corporation, has signed a Letter of Intent (LOI) with Petroplus International NV (”Petroplus”) to acquire a 30 per cent equity in Dragon LNG, a special purpose outfit established by Petroplus to develop a proposed liquefied natural gas (LNG) terminal and related facilities in Milford Haven, Wales, United Kingdom.
Under the terms of the LOI, PETRONAS, Petroplus and BG Energy Holdings Ltd (”BG”), which is a subsidiary of BG Group, will jointly develop the terminal complex to receive, store, re-gas and deliver LNG to customers. BG last month signed a Memorandum of Understanding with Petroplus to become a partner, proposing to purchase 50 per cent equity in the project. (more…)
PETRONAS CONTRIBUTES RM1 MILLION TO XIII NAM SUMMIT
PETRONAS is the official fuel sponsor for the 13th Non-Aligned Movement (NAM) Summit which will be held in Kuala Lumpur from 20 to 25 February 2003.
As the official fuel sponsor, PETRONAS will contribute a total of RM1 million mainly in the form of fuel for use by more than 1,000 official vehicles during the Summit. The contribution also includes the sponsorship of 41 Summit announcement billboards located at strategic locations within Kuala Lumpur, KL International Airport and Putrajaya. (more…)
PETRONAS AWARDED BLOCK 46/02 IN VIETNAM
PETRONAS, Malaysia’s national oil corporation today signed a Petroleum Contract with PetroVietnam and Talisman to jointly explore for and develop hydrocarbon resources in Block 46/02 offshore Vietnam. Under the contract, the three companies will form a joint venture company to operate the block.
The new joint venture outfit, Truong Son Joint Operating Company, will see the participation of PetroVietnam Exploration & Production Company (40 percent), Talisman Vietnam Ltd (30 percent) and PETRONAS Carigali Overseas Sdn Bhd (30 percent). PetroVietnam Exploration & Production Company (PVEP) is a wholly-owned subsidiary of PetroVietnam, Talisman Vietnam Ltd (TVL) is a wholly-owned subsidiary of Talisman while PETRONAS Carigali Overseas Sdn Bhd (PCOSB) is the overseas exploration and production arm of PETRONAS. (more…)