KUALA LUMPUR: Kinergy Advancement Bhd (KAB) has been awarded a contract by Petronas Gas Bhd's subsidiary, Pengerang LNG (Two) Sdn Bhd, for the transformation of 137,000m sqm of liquefied natural gas carriers (LNGC) into a floating storage units (FSU).
In a statement, the energy and engineering solutions provider said the letter of award encompasses engineering, procurement, construction and commissioning (EPCC) work of utility supply for FSU at the Regasification Terminal Pengerang (RGTP).
The contract, valued at RM33.3mil, is expected to be completed by end-2024.
KAB said the expansion of these LNG facilities and the conversion of LNGC into FSUs will significantly increase the capacity and efficiency of LNG storage in the region.
It said the project is expected to enhance the group's revenue and solidify KAB's position in Sustainable Energy Solutions (SES), aligning with KAB's vision for a sustainable future.
The contract marks the second that has been awarded by a PETRONAS-owned entity pursuant to the EPCC contract secured earlier this year.