MALAYSIA LNG Sdn Bhd, which is a 90 per cent subsidiary of Petroliam Nasional Bhd, wants to raise production of liquefied natural gas (LNG) to meet growing global demand. Malaysia LNG managing director and chief executive officer Medan Abdullah said LNG consumption is expected to rise in line with the recovering global economy. Medan, however, did not provide details. He said this in Kuala Lumpur yesterday when signing an agreement with London Stock Exchange-listed Invensys Plc, which has been awarded a RM40 million contract to upgrade Malaysia LNG's information technology (IT) systems until 2014.
Malaysia LNG Bintulu complex in Sarawak houses the MLNG, MLNG Dua and MLNG Tiga plants, six LNG storage tanks and loading jetties with a combined capacity of 23 million tonnes a year. Malaysia LNG is the world's second largest producer of LNG at a single location, which is in Bintulu. The firm contributes more than 4 per cent of Malaysia's gross domestic product and accounts for more than 40 per cent of Sarawak's gross exports.
The LNG plant acquires its natural gas from 125km to 225km offshore of Bintulu from its partners Petronas Carigali and Royal Dutch Shell. Malaysia exports over half of its LNG to Japan alone. Other markets include South Korea and Taiwan, as well as the spot markets in Asia and the West.