By James Paton
May 20 (Bloomberg) -- Petroliam Nasional Bhd., Malaysia’s state-owned oil and gas company, is interested in buying more stakes in Australian liquefied natural gas projects and boosting purchases of the fuel, the head of its local unit said.
“We are here not for limited participation,” Petronas Australia Chief Executive Officer Majid Khalil said in an interview in Brisbane yesterday. “Our idea has been to come into the Australian environment and grow our business, and that remains our objective. So we are looking for opportunities here to expand.”
Petronas, as the Kuala Lumpur-based company is known, owns 40 percent of the Gladstone LNG project in Queensland state, and Santos Ltd. has 60 percent. Santos, Australia’s third-largest oil and gas company, may sell more than 9 percent of the venture as part of a fuel-supply agreement, Chief Executive Officer David Knox said.
Santos is “very close” to announcing an additional customer for the Gladstone venture, Knox said at the Australian Petroleum Production and Exploration Association’s conference yesterday. Adelaide-based Santos agreed last year to sell 2 million metric tons of the fuel a year to Petronas.
Khalil declined to identify any projects in Australia that the company may invest in or buy fuel from. Malaysia is the second-biggest LNG producer in the world, behind Qatar.
Source: http://www.bloomberg.com/apps/news?sid=aYaQPNQzq9Oc&pid=20601087
May 20 (Bloomberg) -- Petroliam Nasional Bhd., Malaysia’s state-owned oil and gas company, is interested in buying more stakes in Australian liquefied natural gas projects and boosting purchases of the fuel, the head of its local unit said.
“We are here not for limited participation,” Petronas Australia Chief Executive Officer Majid Khalil said in an interview in Brisbane yesterday. “Our idea has been to come into the Australian environment and grow our business, and that remains our objective. So we are looking for opportunities here to expand.”
Petronas, as the Kuala Lumpur-based company is known, owns 40 percent of the Gladstone LNG project in Queensland state, and Santos Ltd. has 60 percent. Santos, Australia’s third-largest oil and gas company, may sell more than 9 percent of the venture as part of a fuel-supply agreement, Chief Executive Officer David Knox said.
Santos is “very close” to announcing an additional customer for the Gladstone venture, Knox said at the Australian Petroleum Production and Exploration Association’s conference yesterday. Adelaide-based Santos agreed last year to sell 2 million metric tons of the fuel a year to Petronas.
Khalil declined to identify any projects in Australia that the company may invest in or buy fuel from. Malaysia is the second-biggest LNG producer in the world, behind Qatar.
Source: http://www.bloomberg.com/apps/news?sid=aYaQPNQzq9Oc&pid=20601087
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