PetGas to co-develop power plant in Labuan

PetGas said the project aligns with its strategy to expand its presence in the energy sector.

PETALING JAYA: Petronas Gas Bhd (PetGas) has entered into shareholders’ agreements with Sabah Electricity Sdn Bhd and Sabah Energy Corp Sdn Bhd to jointly develop a new 120MW power plant in the Federal Territory of Labuan.

In a filing with Bursa Malaysia, PetGas said the project follows a letter of notification dated Feb 21 from the Energy Transition and Water Transformation Ministry.