KOTA KINABALU (Dec 27): Petroliam Nasional Bhd (Petronas) has reached the final investment decision (FID) for a near-shore liquefied natural gas (LNG) facility in Sabah. Sabah Chief Minister Datuk Seri Hajiji Noor said the LNG project is a step in the right direction, as the state government continues to pursue more deals to get additional revenue via equity participation for Sabah. Meanwhile, Adnan, who is also the executive vice-president and chief executive officer of Petronas' gas business, said that in view of the transition towards a low-carbon future, the group will continue to advocate greater use of natural gas. “The development of the facility under the Sabah Gas Masterplan will strengthen both the position of the state and Malaysia as a whole as an attractive natural gas hub, contributing to the mutual prosperity of Sabah and the nation. The near-shore LNG facility will expand Petronas' global portfolio of LNG assets, further strengthening the group’s position as one of the world’s largest LNG providers.

Source: The Edge Markets December 27, 2022 09:35 UTC