Petronas to Give Sabah State 10% Stake in LNG 9

Petronas has agree to give the Sabah state government a 10 per cent stake in Liquefied Natural Gas Sdn Bhd 9 (LNG 9) in Bintulu, Sarawak, Malaysia’s state owned news agency Bernama reported Wednesday.

According to the news agency, the energy firm had earlier agreed to give Sabah a five per cent stake in the LNG operation but the state had said it would push for a 10 per cent stake.

“I am pleased to announce today that Petronas has agreed to give Sabah greater participation by increasing our stake to 10 per cent,” Sabah Chief Minister, Datuk Seri Musa Aman, said  in a statement Wednesday.

Musa said the state government was committed to developing Sabah’s oil and gas industry.

“I am confident that through the close cooperation with Petronas, Sabah can expect more exciting developments in the oil and gas industry,” Bernama quoted Musa as saying.