Petronas formalises 25% equity participation with SMJ Energy for PFLNG 3 project

Petronas, through its subsidiary Petronas LNG (PLSB), has formalised a significant equity participation agreement with SMJ Energy.

The deal involves a 25% equity share for SMJ Energy in PFLNG 3, a project company involved in the upcoming shore-based liquefied natural gas (LNG) facility known as the ZLNG project, which will be situated in the Sipitang Oil & Gas Industrial Park (SOGIP).

The heads of agreement (HoA) was signed by SMJ Energy CEO Datuk Dr. Dionysia Aloysius Kibat and PLSB CEO Shamsairi M Ibrahim.

The signing ceremony was attended by Sabah Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor and Petronas president and group CEO Tan Sri Tengku Muhammad Taufik.

The equity acquisition by SMJ Energy will proceed through definitive agreements following the HoA.

The agreement is set to enhance Petronas’ partnership with the Sabah State Government and contribute to the responsible development of the state’s resources.