LNG

Sept 17 (LNGJ) - Petronas Gas subsidiary Pengerang LNG plans to issue Islamic medium-term notes (Sukuk Murabahah) to raise up to 3 billion Malaysian ringgit ($724M) for phase two development of its LNG regasification terminal in the southern state of Johor. Petronas owns 65 percent of the project, the Dialog Group 25 percent and the Johor Government 10 percent.

   The issuer under the name Pengerang LNG II has lodged a programme for the 30-year notes with the Malaysian Securities Commission. Initial extra storage of 200,0000 cubic metres capacity is planned at the Pengerang regasification terminal development at the site of an integrated industrial complex comprising an oil refinery and the storage and distribution of oil and petrochemical products.