Sarawak Eyes 10 Per Cent Equity In MLNG Plant Train 9, Reveals Adenan

Adenan Satem
Adenan Satem

KUCHING – Sarawak is actively discussing with Petroliam Nasional Bhd (Petronas) on acquiring a 10 percent equity in the Malaysia Liquified Natural Gas (MLNG) Plant Train 9.

Chief Minister Tan Sri Adenan Satem said the state was also working with Petronas to increase its equity in MNLG 2 Plant.

He said this in his winding-up speech at the State Assembly sitting in Kuching on Wednesday.

tupper3

“These developments were among the progress the state had made in the five key areas of negotiations with Petronas,” he said.

Adenan said another important achievement was the signing of a memorandum of understanding with Petronas to conduct a joint study for Sarawak Petrochemical Masterplan on April 3, 2016.

“We believe this master plan will help us develop our petrochemical industries in a strategic way to benefit the state,” he said.

Touching on corporate social responsibility (CSR), Adenan said Petronas had committed to spend RM50 million over five years from 2015-2019 on 10 projects.

He gave assurance that despite the uncertainty in the oil market, the negotiation on the state’s request of oil royalty increase from 5% to 20% with the Federal Government and Petronas would continue.