PETALING JAYA: Gas Malaysia Bhd
has received a letter to proceed (LTP) from the Energy Commission of Malaysia (EC) in relation to the liquefied natural gas (LNG) regasification terminal project in Yan, Kedah (RGT Yan).
In a filing with Bursa Malaysia, the company said the LTP represents a significant development which enables the project to progress into the next phase of implementation, including detailed engineering, financing progression, site preparation and other related preparatory works.
“Located in Yan, Kedah, to the west of Pulau Bunting, RGT Yan is envisaged as an offshore floating storage and regasification unit with a planned regasification capacity of up to six million tonnes per annum.
“The project is currently estimated to involve a development cost of approximately RM2bil to RM3bil and the manner of funding for the project will be determined at a later stage.”
This will be the first non-PETRONAS RGT in peninsula Malaysia.
Gas Malaysia said the LTP is subject to certain conditions imposed by the EC.
