November 15, 2014

Petronas Gas Secures US$486.66 Million Contract At Pengerang

KUALA LUMPUR - Petronas Gas Bhd has secured a US$486.66 million (about RM1.5 billion) contract for works at the Regasification Terminal (RGT) Project in Pengerang, Johor.

In a filing to Bursa Malaysia on Friday, Petronas Gas said the contract was for engineering, procurement, construction and commissioning with Samsung C&T Corp.

It added that the contract was in consortium with Whessoe Engineering Ltd, Science-Tech Solutions Sdn Bhd and Samsung C&T (KL) Sdn Bhd.

"The RGT project will comprise a regasification terminal which will function to receive and store Liquefied Natural Gas (LNG) unloaded from LNG carriers into two storage tanks.

"It will subsequently be converted into a gaseous form through a regasification process," said Petronas Gas.

It added that the RGT Project is expected to become operational by the fourth quarter of 2017.

Source: Bernama