Kuala Lumpur: Malaysian energy services firm Dialog Group has announced that it would work with Petronas Gas on a $807m project to develop LNG regasification facilities in the southern state of Johor.
Under the agreement, a wholly owned unit of Dialog will take a 25% stake in a special-purpose vehicle called Pengerang LNG (Two) Sdn Bhd, which will undertake the project. Petronas Gas will take a 65% stake in Pengerang LNG while Johor state will hold the rest of the stake.
The terminal comprises a regasification unit and two 200,000 cu m LNG storage tanks with an initial send out capacity of 3.5m tonnes per annum of natural gas.
The phase one project of the Pengerang terminal which is owned by Pengerang Independent Terminals, a joint venture between Dialog, Vopak and SSI Johor, commenced operations in the second quarter of this year. [17/11/14]