Malaysian media have reported that the state of Johor will take a 10 percent stake in two terminals at Petroliam Nasional Bhd’s Pengerang Integrated Complex (PIC).
The Johor government has reportedly signed two lease agreements with Pengerang Terminals (Two) Sdn Bhd (PT-2) and Pengerang LNG (Two) Sdn Bhd (PLNG-2) respectively.
The lease agreements mark the next stage of progress in the development of Petronas’s Pengerang Integrated Complex (PIC). Subsequent to the signing, the Johor government would hold 10 percent equity in PT-2 and PLNG-2. PT-2 terminal will serve as a dedicated storage and industrial terminal for Petronas’s Refinery and Petrochemical Integrated Development (RAPID) complex.