KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) is in talks with banks for a potential loan to fund a liquefied national gas (LNG) project, according to sources.
The state-owned company is seeking project financing of over US$1bil, said the sources. The facility could carry a tenor around 15 years.
Proceeds would fund the construction of an LNG facility in the country, according to the sources.
Discussions with potential financiers are ongoing and the deal’s details could be subject to change. PETRONAS didn’t respond to a request for comment.
PETRONAS operates one of the world’s biggest LNG terminals in Bintulu, Sarawak and sources a bulk of its gas supply from the hydrocarbon-rich Borneo state. Last year, Abu Dhabi National Oil Co agreed to sell the natural gas to the company for 15 years starting 2028. — Bloomberg
