PICL, the international division of PETRONAS, the Malaysian national oil and gas company, announces that it has acquired about 4% shareholding in Centrica PLC.PETRONAS views this shareholding as a long term supportive investment in the UK’s leading energy retailing company and hopes to build a positive and constructive relationship with Centrica’s Management in the future.
PETRONAS is comfortable with its level of shareholding in Centrica and currently has no intention of purchasing more shares in Centrica PLC.
PETRONAS is one of the world’s largest integrated oil and gas companies with net income for the year 2004-5 of US$9.4 billion. PETRONAS is also a leading LNG company operating the world’s largest LNG production complex at Bintulu in Malaysia.
In the past three years PETRONAS has expanded its LNG business into the Atlantic Basin. It owns a 35.5% interest in Egypt LNG and is developing a 6 billion cubic meter per annum LNG receiving terminal at Milford Haven with BG and Petroplus which should help ensure that the UK is comfortably supplied with imported gas later in this decade.
Media Relations Department