MISC inks FSU supply deal for PETRONAS RGTP

From left: PETRONAS Gas head of project development Noor Azzyati Ariffin, managing director and CEO Abdul Aziz Othman, Pengerang LNG (Two) CEO Hisham Maaulot, MISC VP of gas assets and solutions (GAS) Hazrin Hasan, VP of finance Raja Azlan Shah Raja Azwa, and head of new ventures and technology (GAS) Wong Zun Haur

KUALA LUMPUR: MISC Bhd has entered into a heads of agreement with Pengerang LNG (Two) Sdn Bhd, a subsidiary of Petronas Gas Bhd, for the supply, operation and maintenance of a liquefied natural gas (LNG) floating storage unit (FSU) for deployment at the PETRONAS LNG Regasification Terminal Pengerang (RGTP) in Johor.

In a filing with Bursa Malaysia, MISC said the project has an estimated contract value of up to US$213.7mil and is valid for 20 years from the expected operation date of 2025 and may be extended upon mutual agreement.