PETALING JAYA: Petronas Gas Bhd
(PetGas) says its subsidiary has agreed to pre-pay as much as US$173.64mil (RM706mil) in jetty usage charges at the Pengerang LNG regasification terminal, a move aimed at reducing foreign-exchange exposure.
Pengerang LNG (Two) Sdn Bhd (PLNG2) entered into a supplementary agreement with Pengerang Terminals (Two) Sdn Bhd to settle in advance the fixed annual charges under a jetty usage agreement (JUA) signed in 2017, PetGas told the stock exchange.
The one-off cash settlement covers the remaining service period from Jan 1, 2026 through March 2, 2044, or another date agreed by the parties.
Pengerang Terminals (Two) is jointly owned by PRPC Utilities and Facilities Sdn Bhd; Dialog Equity (Two) Sdn Bhd; Vopak Terminal Pengerang BV and Permodalan Darul Ta’zim Sdn Bhd.
PRPC is wholly-owned by Petroliam Nasional Bhd, the parent company of PetGas.
“The jetty facilities services will continue to be utilised by PLNG2 until the end of the contracted period and the operating portion of the JUA will remain unaffected.”
