Petronas Gas executes second term GPA with parent company

The launch of the new grade could help ease tight condensate supplies in Asia. The sell tender is for a cargo loading March 21-31 from the Mekar Bergading Marine Terminal.

KUALA LUMPUR: Petronas Gas Bhd (PetGas) has entered into the second term of the Gas Processing Agreement (GPA) with Petronas, which will commence today and continues until Dec 31, 2023.

In a filing to Bursa Malaysia yesterday, the company said under the second GPA, Petronas will pay PetGas a fixed reservation charge of RM2,524 per million standard cubic feet (mmscf) and flow rate charge of 20 sen for each gigajoule of dry gas processed above the committed target of 1,750 mmscf per day throughout the GPA term.