Malaysia’s state-owned oil and gas company Petronas has sold its 50% stake in the 7.6 bcm/year (5.6 Mt/year) Dragon LNG import terminal in Milford Haven, Wales (United Kingdom) to the British infrastructure investor manager Ancala (the remaining 50% stake is owned by Shell). However, Petronas will retain its 3 bcm/year (2.2 Mt/year) regasification capacity in the terminal, where it will regasify LNG imported from Qatar under a five-year agreement (1.1 Mt/year, i.e. 1.5 bcm/year, until 2024). Petronas will thus keep an European delivery point for its LNG in times of sugglish Asian LNG demand.
Petronas operates two LNG import terminals in Malaysia, the 5.1 bcm/year Melaka floating storage and regasification unit (FSRU) commissioned in 2013 and the 4.7 bcm/year Pengerang onshore regasification terminal commissioned in 2017. It also owns a majority stake in the 42 bcm/year (31 mt/year) Bintulu liquefaction plant in Malaysia and minority stakes in the 10.5 bcm/year (7.8 Mt/year) Gladstone LNG plant in Australia and in the 9.7 bcm/year (7.2 Mt/year) Idku LNG plant in Egypt. Petronas also holds a 25% stake in Shell-led LNG Canada project in Canada (28 Mt/year).
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