Offshore staff
Petronas subsidiary Malaysia LNG Tiga Sdn Bhd signed a sale and purchase agreement with Korea Gas Corp. to supply up to two million tonnes per annum (mpta) of LNG for 20 years beginning 2008. Kogas selected MLNG Tiga as one of its preferred suppliers from 12 bidders that participated in a tender late last year.
The Petronas LNG complex in Bintulu will supply the LNG to Kogas receiving terminals in Pyeong Taek, Incheon, and Tong Young in South Korea. Petronas subsidiary Malaysia International Shipping Corp. Bhd will transport the LNG in its vessels.
Kogas is the single largest LNG importer in the world, importing close to 20 mtpa. With this contract, Kogas became the largest LNG importer from Malaysia LNG companies, with imports of 6.7 mtpa. Malaysia LNG companies will supply 24% of Kogas' total volume imports, estimated at 25 million tonnes in 2008.
The MLNG Tiga plant, along with two other plants owned by Malaysia LNG Sdn Bhd and Malaysia LNG Dua Sdn Bhd, boosted the country's LNG production capacity to about 23 mtpa, making the Petronas LNG complex in Bintulu the world's largest LNG production facility in a single location.
07/15/05
