Eneos Xplora, previously known as JX Nippon Oil & Gas Exploration, and Petronas announced the signing of the agreements in separate statements on Thursday.
Subject to the fulfillment of certain closing conditions, Eneos will hold a 10 percent equity stake in MLNG Tiga for the next decade, following the expiry of the previous MLNG Tiga joint venture agreement in 2023.
The partners did not reveal the pricing details.
Established in 1995, MLNG Tiga is a joint venture involving Petronas and other partners, with the
objective of liquefying natural gas produced from offshore fields including the SK-10 Block operated by Eneos Xplora, located off the coast of Sarawak, Malaysia.
The plant has two trains with a total capacity of 7.7 mtpa.
“The agreement marks a significant milestone in the enduring partnership between Petronas and Eenos, reflecting shared commitment to strengthening long-term energy security and supporting reliable LNG supply to international markets, particularly Japan, amid an increasingly complex and volatile global energy landscape,” Petronas said.
The Petronas-operated Bintulu plant, which has shipped more than 12,000 LNG cargoes since it started operations back in 1983, consists of nine trains and supplies key demand centers such as Japan, South Korea, China, and Taiwan.
The LNG complex has a capacity of approximately 29.3 mtpa and includes MLNG Satu, MLNG Dua, MLNG Tiga, and Train 9, which started commercial operations in 2017.
Eneos Xplora also has a 10 percent equity in Train 9.
