Petronas Gas said in a stock exchange announcement on Wednesday that it had executed the jetty usage agreement with Lumut Maritime Terminal.
“The consideration of this transaction is based on long-term services for the jetty utilization for the purpose of the third regasification terminal in Lumut, Perak (RGT-3),” the company said.
Pwetronas Gas noted that the deal sets out the terms and conditions for the usage of the jetty to be provided by Lumut Maritime Terminal.
The company did not provide further details regarding the agreement.
MISC’s FSRU
The RGT-3 terminal includes a floating storage and regasification unit (FSRU), which will be provided by MISC, also a unit of Petronas.
Petronas Gas said the regasified LNG will then be transported via a connecting pipeline from RGT-3 onshore and berthing facilities to the onshore grid.
RGT-3 is designed with an LNG storage capacity of 170,000 cbm and a regasification send-out capacity of 500 MMscfd, it added.
MISC just ordered one FSRU from South Korean shipbuilder Samsung Heavy Industries.
The order is valued at 484.8 billion won, or approximately $329 million.
Samsung Heavy will deliver the FSRU by February 2029.
Petronas Gas issued a letter of award to MISC for the provision of supply, operation, and maintenance of the FSRU.
The project will be for a firm period of 20 years, with commencement expected in 2029.
Moreover, the project marks MISC’s entry into the FSRU segment, leveraging its technical and operational expertise in LNG carriers and FSUs.
Petronas currently operates the offshore LNG regasification terminal in Sungai Udang, Melaka (RGTSU) and the onshore LNG regasification terminal in Pengerang, Johor (RGTP).
MISC converted two of its LNG vessels into floating storage units (FSUs) that support Malaysia’s first regasification terminal, located in Sungai Udang, Melaka.
RGTSU, with a capacity of 500 mmscfd began its commercial operation in the second quarter of 2013, while RGTP, with a capacity of 490 mmscfd, began its commercial operation in the fourth quarter of 2017.
