MISC Berhad (MISC) has entered into a binding Heads of Agreement (HOA) with Pengerang LNG (Two) Sdn. Bhd. (PLNG2SB), a subsidiary of PETRONAS Gas Berhad (PGB), for the supply, operation, and maintenance of a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) intended to be deployed at the PETRONAS LNG Regasification Terminal Pengerang (RGTP) in Johor.
This project is a continuation of the collaboration between MISC and PGB in 2012 that brought about the successful deployment of FSU Tenaga Satu and FSU Tenaga Empat at the LNG Regasification Terminal Sungai Udang, Melaka.
At the core of this latest partnership is the conversion of MISC’s LNG Carrier, Puteri Delima Satu, into an FSU dedicated to this project. The FSU is designed to receive shore power to reduce emissions while improving operational efficiency and is set to become commercially operational by the second quarter of 2025 under a 20-year contract term, with provisions for extension based on mutual agreement.
Mr. Hazrin Hasan, MISC’s Vice President of Gas Assets & Solutions (GAS) said, “This partnership represents more than just a new chapter in our collaboration; it embodies the essence of progress and shared commitment between the two parties. By repurposing and redeploying our existing assets and drawing on our experience from operating FSU Tenaga Satu and FSU Tenaga Empat, we are not only creating a revenue-generating opportunity but also driving better shareholder returns. We thank PGB and PLNG2SB for their trust and we remain committed together with PETRONAS in supporting the national agenda for energy transition in Malaysia.”
From left to right : Ms. Noor Azyyati Ariffin, Head of Project Development, PGB, Mr. Abdul Aziz Othman, Managing Director and CEO, PGB, Mr. Hisham Bin Maaulot, CEO, PLNG2SB, Mr. Hazrin Hasan, VP of Gas Assets & Solutions (GAS), MISC, YM Raja Azlan Shah Raja Azwa, VP of Finance, MISC and Mr. Wong Zun Haur, Head of New Ventures & Technology, GAS, MISC.
Signing the HOA on behalf of MISC was Mr. Hazrin Hasan while PLNG2SB was represented by its Chief Executive Officer (CEO), Mr. Hisham Bin Maaulot. The signing ceremony was witnessed by MISC Vice President of Finance, YM Raja Azlan Shah Raja Azwa and PGB Managing Director and CEO, Mr. Abdul Aziz Othman.
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About MISC Berhad
MISC Berhad (MISC or the Group) is a global leader in delivering energy-related maritime solutions and services with more than 50 years of experience in the maritime industry. Our principal businesses comprise energy shipping and its related activities, owning and operating offshore floating solutions, marine repair and conversion, integrated marine services, port management and maritime services as well as maritime education and training.
The Group’s modern and diverse fleet consists of more than 100 owned and in-chartered vessels comprising of Liquefied Natural Gas (LNG) and Ethane carriers, Petroleum and Product vessels, Floating Production Systems (FPS) as well as LNG Floating Storage Units (FSU) with a combined deadweight tonnage (dwt) capacity of more than 13 million tonnes.
We are a proud constituent of the DJSI Emerging Markets Index and FTSE4Good Bursa Malaysia Index, a testament to our sustainability performance and strong Environmental, Social and Governance (ESG) practices. MISC Berhad is listed on the Main Board of Bursa Malaysia.
For more information, visit www.misc.com.my
About Pengerang LNG (Two) Sdn. Bhd. (PLNG2SB)
PETRONAS Gas Berhad is Malaysia’s leading gas and infrastructure company with core businesses in Gas Processing, Gas Transportation, Regasification and Utilities. Through its subsidiary Pengerang LNG (Two) Sdn. Bhd. (“PLNG2SB”), PLNG2SB owns a regasification facility in Pengerang, Johor which plays a vital role in supporting the national energy security.
The regasification terminal receives and stores Liquefied Natural Gas (LNG) from LNG carrier, vaporises the LNG prior to delivering the natural gas to the Refinery and Petrochemical Integrated Development (RAPID) Complex, Pengerang Cogeneration Plant (PCP) and other consumers via the Peninsular Gas Utilisation national grid.
PLNG2SB is formed in April 2012 with the inspiration to become the primary LNG hub in South East Asia, aligned with one of Rancangan Malaysia Ke-12 (RMK-12) strategy.
Issued on behalf of MISC Berhad by the Group Corporate Communications (GCC) Division of MISC
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