Pacific NorthWest LNG, a unit of Malaysia's Petronas, president Greg Kist, speaking at a Vancouver conference, said the final investment decision (FID) would hinge on whether the provincial government comes out with promised tax measures for the LNG industry before the new year.
KUALA LUMPUR: Petronas recently sealed an agreement for the engineering, procurement, construction and commissioning (EPCC) of an automated storage and retrieval system (ASRS) warehouse for its petrochemical plants in the Pengerang Integrated Complex (PIC).
The EPCC contract was signed by Petronas and a consortium comprising Sinopec Engineering (Group) Co Ltd, Sinopec Shanghai Engineering Co Ltd and Sinopec Engineering Group Malaysia Sdn Bhd.
"We have moved another step closer towards realising the development of PIC, which is scheduled for successful start-up in the first quarter of 2019," said Petronas Refinery and Petrochemical Corp Sdn Bhd (PRPC) senior vice-president and chief executive officer Colin Wong Hee Huing in a statement on Thursday.
The facility will be Petronas' first automated warehouse capable of meeting a 21-day storage inventory for polymer products in the PIC, namely polypropylene, linear low density polyethylene and flexible polyethylene.
The contract also includes other associated solid handling facilities for the ASRS warehouse.
The Sinopec consortium received the letter of award from PRPC Utilities and Facilities Sdn Bhd, a subsidiary of Petronas Refinery and Petrochemical Corporation Sdn Bhd (PRPC), on Aug 1, 2016.
The project is expected to be completed within the next 27 months. - Bernama
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