LNG

March 1 (LNGJ) - Malaysian energy company Petronas said it was postponing the Rotan floating LNG venture offshore Sabah as part of cost-cutting measures amid much lower revenues because of the oil slump. “These cuts will impact some of our capital projects,” the company said. “At this point, we have taken the decision to re-phase the Petronas Floating LNG 2 project to be commissioned at a later date than originally planned,” it added. Rotan FLNG was planned to come on stream in 2017 with output of 1.5 million tonnes per annum. Petronas is still on course to deploy the world's first FLNG hull over the Kanowit field, located 180 kilometres offshore Sarawak, Malaysia, in late 2016.The Kanowit FLNG hull is being constructed at the Daewoo Shipbuilding and Marine Engineering shipyard in South Korea.