(EnergyAsia, February 9 2015, Monday) — The Johor state government will acquire a 10% stake in two proposed terminals at the Pengerang Integrated Complex (PIC) being developed by Malaysia’s national oil and gas firm Petronas, all targeted for start-up in 2019.
In a statement, Petronas said the State Secretary Incorporated Johor (SSI) has also signed agreements to lease land to its associates, Pengerang Terminals (Two) Sdn Bhd (PT-2) and Pengerang LNG (Two) Sdn Bhd (PLNG-2), to own and operate the storage terminals within the 2,252-hectare PIC site.
PT-2’s oil terminal will be dedicated to serve a refinery and petrochemical plant that Petronas is proposing to build on the coastal town of Pengerang facing the South China Sea. PT2’s facilities, which will be sited next to the existing Pengerang Indepdent Terminal, include tanks to store 2.1 million cubic metres of crude oil, products, petrochemicals and chemicals, and a deepwater jetty with 12 berths.
PLNG-2 will own and operate a regasification unit and two units each with tanks to hold 200,000 cubic metres of liquefied natural gas (LNG) with an initial annual send-out capacity of 3.5 million tonnes or about 490 million standard cubic feet per day (mmscfd). When completed, the regasification facilities will support a planned co-generation plant to supply electricity to the US$16-billion refinery-petrochemical complex. Support facilities and infrastructure are estimaedt to cost another US$11 billion.
Johor state’s equity participation and lease agreement mark “the next stage of progress in the development of Petronas’ Pengerang Integrated Complex (PIC),” said the national oil company.