PETROLIAM Nasional Berhad (Petronas) and Sabah Oil & Gas Development Corporation Sdn Bhd (SOGDC) signed a Memorandum of Understanding (MoU) to build Sabah’s first and largest near-shore floating liquefied natural gas (LNG) facility known as ZLNG project at Sipitang Oil and Gas Industrial Park (Sogip).
With an estimated investment value of RM8.8 billion, the signing strengthened the existing close collaboration between Petronas and SOGDC towards materialising the project which is currently under the Front-End Engineering and Design (FEED) stage and targeted to complete Final Investment Decision (FID) at end of this year.
Deputy Chief Minister cum Industrial Development Minister Datuk Dr Joachim Gunsalam witnessed the signing ceremony held at Le Meridien Kota Kinabalu subsequent to the adjournment of the 4th Joint Technical Meeting of the ZLNG project.
LNG Assets, Gas Business Vice-President Abang Yusuf Abang Puteh signed on behalf of Petronas, while the Permanent Secretary of the Industrial Development Ministry cum Director of SOGDC, Thomas Logijin, signed on behalf of SOGDC, witnessed by SOGDC Managing Director cum Chief Executive Officer Abdul Kadir Abdullah