The new volume is an addition to the existing two million tonnes per annum (mtpa), seven-year supply agreement signed between the two parties in 2003.
The LNG is being supplied from the MLNG Tiga plant located at the PETRONAS LNG Complex in Bintulu, Sarawak and will be delivered to KOGAS’ receiving terminals in Incheon, Pyeong Taek and Tong Young in South Korea via tankers owned and operated by Malaysia International Shipping Corporation Bhd (MISC), another subsidiary of PETRONAS.
KOGAS, whose current customers include Korea Electric Power Corporation and city gas companies, also imports two million tonnes of LNG annually from Malaysia LNG Dua Sdn Bhd under a 20-year supply contract, which expires in 2015.
MLNG Tiga is a joint venture between PETRONAS (60 per cent), the Sarawak State Government (10 per cent), Shell Gas Holdings (Malaysia) Ltd. (15 per cent), Nippon Oil LNG (Netherlands) BV (10 per cent) and Diamond Gas Netherlands BV (five per cent). The MLNG Tiga plant comprises two liquefaction trains with an annual production capacity of 6.8 million tones.
The PETRONAS LNG Complex in Bintulu is currently the world’s largest integrated LNG facility at a single location with a combined production capacity of about 23 mtpa. Apart from the two-train, 6.8 mtpa MLNG Tiga plant, the Complex also houses the three-train, 8.1 mtpa Malaysia LNG Sdn Bhd plant, as well as the three-train, 7.8 mtpa MLNG Dua plant.
The agreement was signed in Kuala Lumpur between Chairman of MLNG Tiga Tan Sri Dato Sri Mohd Hassan Marican, who is also President and Chief Executive Officer of PETRONAS, and KOGAS Chairman, President and CEO Mr. Oh Kang Hyun.
Issued by
Media Relations & Information Department
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