en.Wedoany.com Reported - Petronas Gas Berhad recently announced that it has signed a binding Heads of Agreement (HoA) with Integrax regarding a shareholders' agreement, with both parties collaborating to develop the third regasification terminal (RGT-3) located in Lumut, Perak.

This HoA lays the foundation for formal cooperation between the two companies. According to the plan, after the shareholders' agreement is finalized and signed, a special purpose vehicle (SPV) will be established. The terminal adopts a floating storage and regasification unit (FSRU) design, with a liquefied natural gas storage capacity of 170,000 cubic meters and a regasification send-out capacity of 500 million standard cubic feet per day (MMscfd).

Petronas Gas stated that the capacity of RGT-3 will be underwritten by TNB Fuel Services in phases, with full capacity secured from 2030 onwards. The FSRU for this project will be provided by Malaysia International Shipping Corporation (MISC), which is also a subsidiary of Petronas. MISC has ordered an FSRU from South Korean shipbuilder Samsung Heavy Industries, with a contract value of 484.8 billion Korean won, approximately USD 329 million, scheduled for delivery by February 2029.

Petronas Gas has issued a letter of acceptance to MISC for the supply, operation, and maintenance of this FSRU. The project has a fixed term of 20 years and is expected to commence in 2029. Regasified LNG will be transported from the onshore and jetty facilities of RGT-3 to the onshore grid via connecting pipelines.

Petronas Gas has also recently signed a terminal usage agreement with Lumut Maritime Terminal for Malaysia's first FSRU-based LNG import terminal. The company currently operates the offshore LNG regasification terminal (RGTSU) in Sungai Udang, Malacca, and the onshore LNG regasification terminal (RGTP) in Pengerang, Johor.

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