Saturday 27 Apr 2024
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KUALA LUMPUR (July 19): Malaysia's Petroliam Nasional Bhd (Petronas) and Thailand's PTT Plc have proposed to jointly develop a natural gas liquefaction facility in Malaysia to grow PTT's midstream operations, Bangkok Post reported today.

Bangkok Post, quoting PTT chief operating officer for upstream petroleum and gas business Wirat Uanarumit, reported that PTT was expected to own 10% in the joint venture (JV).

"Wirat Uanarumit, chief operating officer for the upstream petroleum and gas business, said the two companies made a tentative agreement last month, with PTT expected to hold 10% of the JV.

"He said PTT has set up a new company, PTT Global LNG Co, to invest in the project. All details and project finances are expected to be in place by the third quarter of this year, when construction is also expected to start," Bangkok Post reported.

Petronas has not issued a media statement on the matter at the time of writing.

 

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