Petronas Gas has signed an agreement for the long-term use of a jetty operated by Lumut Maritime Terminal to support its third regasification terminal in Perak.
This facility, known as RGT-3, was established to expand gas infrastructure capacity across Peninsular Malaysia.
Operating as a floating storage and regasification unit, the terminal will process liquid gas before it is transported through a connecting pipeline. Storage capacity for the site is listed at 170,000 cubic metres, while the regasification send-out capacity is rated at 500 million standard cubic feet (14.1 million cubic metres) per day.
Funding for the project will involve a combination of debt and equity, which may result in an increase in the group's gearing levels. Petronas Gas noted that the transaction does not have any effect on the issued and paid-up capital and substantial shareholders' shareholdings.
Lumut Maritime Terminal acts as the port operator for Lumut Maritime Terminal two where the facilities will be located.
The company noted this transaction is considered crucial for the development of the RGT-3 terminal and its integration into the Peninsular Gas Utilisation system.
