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Petronas Will Start Dragon LNG Terminal in mid-2009

BG Group's Dragon liquefied natural gas import terminal in Wales will be commissioned by mid-2009, Malaysia's state oil firm Petronas, a key shareholder of the facility, Reuters reported last week

Dragon LNG - a joint venture in which BG has a 50 percent stake, Petronas has a stake of 30 percent and Netherland's 4Gas holds 20 percent, had originally been scheduled to open last year, before winter.

"We are looking at the middle of this year for the Dragon terminal to be commissioned," Ezhar Yazid Jafaar, a Petronas senior manager of strategic business planning in the gas business, told Reuters at an industry conference.

"The delay was due to problems with contractors. We had to renegotiate some aspects," he added, but declined to say what those aspects were.

The facility, aimed largely at keeping Britain well supplied with heating fuel during peak winter demand, is still not ready to take deliveries and BG had earlier said first delivery of LNG would not happen until at least April.

Ezhar said Petronas's LNG shipments to Britain could come from Bintulu in eastern Sarawak state on the island of Borneo, the only Malaysian source of LNG, and also from other sources. He declined to say how much LNG would be shipped to Britain.

"We are looking at other options, like from the Atlantic basin. We have to remain vigilant about supplies, examine the buyer and seller prices," he said.

Source: Reuters

Author: Ksenia Kochneva