Murphy Oil, the US exploration and production company whose Rotan natural gas discovery offshore Malaysia is the subject of a floating LNG joint venture, has sold its Malaysian assets for more than $2 billion to Thailand state energy company PTT Exploration and Production.
Malaysian energy company Petronas said it delivered its first LNG cargo to South Korean oil refining company S-Oil Corp. to start a 15-year supply agreement.
Malaysia International Shipping Corp. (MISC), whose LNG fleet comprises more than 30 vessels, said the LNG shipping sector faced ongoing tonnage oversupply and a difficult market in 2018 as it posted higher revenues and lower profits before tax in its annual earnings.
Malaysia has opened up its natural gas and LNG market to third-party participants as it starts commercial operations at its new Pengerang regasification terminal in Johor.
Malaysian energy company Petronas said the world’s first floating liquefied natural gas production plant has produced its first LNG from feed-gas at the Kanowit field located 180 kilometres offshore Sarawak and the first commercial cargo will be lifted in early 2017.
Petronas Chief Executive Zulkiflee bin Wan Ariffin told the LNG 18 conference in the Australian city of Perth that the Malaysian energy company would be sending the world’s first floating LNG production hull from the shipyard in South Korea to the Kanowit natural gas field, located 180 kilometres offshore Sarawak.
Malaysian energy company Petronas has held a naming ceremony for the floating liquefied natural gas production unit that will be the first to operate in the world when deployed offhsore Sarawak later in 2016.