Dialog, consortium to invest RM4bil in Pengerang LNG terminal (7277)

PUTRAJAYA: The consortium comprising of Dialog Group Bhd, the Johor Government and Royal Vopak will invest RM4.08bil to develop the Pengerang LNG Terminal Project.
In an update of the Economic Transformation Programme (ETP) on Thursday, the project -- which is part of the government's oil and gas and energy NKEA (new key economic area) -- will allow multiple liquefied natural gas users to store and trade the product.
This
will comprise of an an LNG storage, loading and regasification terminal
to import LNG for trading purposes and for the domestic usage.
Starbiz recently reported that economically, Pemandu has estimated the hub would generate a gross national income (GNI) of RM544.77mil.
The
news report said in the first phase of the project -- the Pengerang
Independent Deepwater Petroleum Terminal (PIDPT), will see 150 arces of
land reclaimed.
The plan is to build a oil storage capacity of
1.3 million cubic metres and seven berths at a cost of RM1.9bil,
ultimately growing to five million cubic metres. The cost of the oil
storage terminals by PIDPT then is expected to grow to as much as
RM5bil eventually.
Dialog and Vopak each owns 49% and 51% respectively in Pengerang Terminals Sdn Bhd, which in turn owns 90% in Pengerang Independent Terminals Sdn Bhd, the operator of PIDPT, with Johor state government holding 10%.