Petronas and JX Nippion sign LNG agreement

Petronas and JX Nippon Oil & Energy have signed an agreement for the sale and purchase of equity in Petronas LNG 9 Sdn Bhd (PL9SB).

JX NOE will purchase a 10 per cent stake in PL9SB, which owns the ninth LNG liquefaction train within the Petronas LNG Complex in Bintulu, Sarawak, Malaysia.

The train, with a production capacity of 3.6 million tonnes per annum, is expected to commence commercial operations in Q1 of 2017.

“We are committed to work together for the future growth of LNG business," said Tsutomu Sugimori, JX NOE President. "As an integrated energy conversion company, JX NOE will continue to strive for the stable supply of energy.”

JX NOE’s entry into PL9SB marks its second participation in Petronas’ LNG projects, in addition to its existing 10 per cent equity interest in MLNG Tiga Sdn Bhd.