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Petronas Gas, Tenaga Nasional Unit to Develop Third Regasification Terminal

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Petronas Gas (KLSE:PETGAS) signed a binding heads of agreement with Tenaga Nasional (KLSE:TENAGA) unit Integrax, to jointly develop the third regasification terminal (RGT-3) in Perak, Malaysia.

The project will be developed through a special purpose vehicle, and is based on a floating storage regasification unit (FSRU) concept, according to a Thursday Malaysian bourse filing.

The planned facility boasts an engineered LNG storage capacity of 170,000 cubic metres and a send-out capacity of 500 million standard cubic feet per day.

The fuel procurement and supply arm of Tenaga Nasional, TNB Fuel Services, will underwrite the terminal's capacity in phases. Full capacity expected from 2030 onwards, it added.

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