KUALA LUMPUR: Gas Malaysia Bhd
Bhd has agreed to buy bio compressed natural gas (BioCNG) extracted by O’rec Ind Sdn Bhd from landfill gas for a contract period of 10 years.
It told Bursa Malaysia that its unit Gas Malaysua Venture 2 Sdn Bhd (GMV2) had signed a gas purchase agreement with O’rec, which is involved in recovering residual oil generated from palm oil mill and providing services for total biogas solution, effluent treatment system and emission control system.
GMV2 will secure potential customer(s) to buy the BioCNG for a minimum volume of 250,000 MMBtu per year.
Gas Malaysia said it would fund its investment through internally generated funds
The statement did not give the value of the 250,000 MMBtu worth or the financial details of the agreement.
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