Hornbill Unleashed

August 4, 2017

Sarawak rep wants explanation for delay in purchase of Petronas unit stake

Filed under: Politics — Hornbill Unleashed @ 8:03 AM

PKR’s See Chee How said the Sarawak state government must explain why it has not acquired a 10 per cent stake in Petronas LNG 9 Sdn Bhd (PL9SB) in Bintulu three years after the state oil firm offered it to the state. — Picture by Sulok TawieThe Sarawak government must explain why it has not acquired a 10 per cent stake in Petronas LNG 9 Sdn Bhd (PL9SB) in Bintulu three years after the state oil firm offered it to the state, PKR’s Batu Lintang assemblyman See Chee How said today.

“The state administration, particularly State Secretary Tan Sri Morshidi Ghani, who sits in the board of directors in Petronas, owes all Sarawakians an explanation why it is taking so long for Sarawak to conclude the deal,” he told reporters here.

He said the offer was made in August 2014 and was immediately accepted by then chief minister, the late Tan Sri Adenan Satem, but was not finalised.

See said there must be a deadline to conclude the acquisition of the stake in the LNG 9 Train facility, the ninth liquefaction unit which could produce 3.6 million tonnes of LNG annually.

He said Adenan had been serious in his pursuits, explaining the reason why the former chief minister had wanted all Petronas facilities producing oil and gas from Sarawak to be located in Bintulu.

He said that since June 2014, Petronas has sold a 10 per cent stake in LNG 9 Train to a Japanese company JX Nippon Oil & Energy and another 10 per cent equity for US$500 million (RM2.14 billion) recently to PTTGL Investment Ltd (PTTGLI) and partner, both of Thailand.

“We have been slack in the deal to protect Sarawak’s rights and interests, three years after the state was offered to acquire the 10 per cent stake,” he said.

See said the disposal of 10 per cent stake to Thai interests last week was “utterly unacceptable” and he hoped that the state government would demand an explanation from all parties concerned.


Source : The Malay Mail Online by  SULOK TAWIE


 

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