-- Malaysian state-owned Petronas said Thursday Japanese energy firm Eneos Xplora will re-enter its subsidiary Malaysia LNG Tiga by acquiring a 10% equity stake, after the previous joint venture agreement expired in 2023.
Once the transaction is finalized, subject to closing conditions, Eneos will again become a part of MLNG Tiga for the next ten years, Petronas said.
MLNG Tiga produces liquefied natural gas from offshore fields and supplies gas to Japanese buyers. It began operations in 2003, and has since seen the collaboration between Eneos and Petronas.
The SK-10 block, located off the coast of Sarawak and operated by Eneos, is part of the development, the company said.
Eneos, in 2016, had also begun its participation in an LNG liquefaction plant operated by another Petronas subsidiary, Petronas LNG 9, it said.