SMJ Energy is acquiring a 25% equity stake in Petronas' third floating liquefied natural gas (FLNG) project. The decision has been made official by a heads of agreement (HoA) signed by the two companies.
Definitive agreements are still pending to formally implement the acquisition.
According to Petronas, PFLNG 3 is the world's first nearshore FLNG facility. It's planned to have a production capacity of up to 2 million tonnes per annum (mtpa) of LNG.
PFLNG 3 will be built within the Sipitang Oil and Gas Industrial Park (SOGIP), located in Sabah, Malaysia.
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