Petronas, ENEOS Xplora agree on 10% stake in Malaysia LNG plant
Malaysia's state energy firm Petronas said it has signed definitive agreements with Japan's ENEOS Xplora to formalize ENEOS' re-entry into Malaysia LNG Tiga (MLNG Tiga), its Sarawak-based liquefied natural gas joint venture.
ENEOS will hold a 10% equity stake in MLNG Tiga for the next decade, subject to the fulfilment of certain closing conditions, Petronas said in a statement on Thursday.
The previous MLNG Tiga Joint Venture Agreement expired in 2023.
The re-entry of ENEOS into MLNG Tiga "reflects shared confidence in the asset's resilience and long-term role within Asia's LNG landscape," said Adif Zulkifli, executive vice president of Petronas and chief executive officer of its gas and maritime business.
"It also reinforces Petronas' focus on building a reliable LNG system that continues to deliver value to customers and partners, particularly in important markets such as Japan," he said.
ENEOS Xplora's representative director and president Yasuhiko Oshida was quoted as saying that they were pleased to participate in the project again, as MLNG Tiga has steadily supplied LNG to Japanese buyers since commencing operations in 2003.
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