Dialog Group of Malaysia and Dutch company Vopak will invest RM4.08 billion (1,3 billion USD) to build Pengerang LNG Terminal in Johor, Malaysian Prime Minister Najib Tun Abdul Razak announced as a part of the the country’s Economic Transformation Programme.
A consortium comprising Dialog Group, the State Government of Johor and Royal Vopak will invest RM4.08 billion to develop the Pengerang LNG Terminal Project – an LNG storage, loading and regasification terminal to import LNG for trading purposes and for domestic use.
The terminal will be the first Independent LNG Trading Terminal in Asia, allowing multiple LNG users to store and trade the product.
The Prime Minister said that this will spur the growth of the industry, and help establish Malaysia as Asia’s LNG Trading hub.
LNG World News Staff, September 18, 2012; Image: Dialog Group