Commodities
Sabah Secures Big Stake in Petronas' Floating LNG Project
Sabah's government is set to receive a significant stake in Petronas's floating liquefied natural gas (FLNG) project. Under an upcoming agreement, the state will gain a 40% stake in the project.
According to Sabah Chief Minister Hajiji Noor, this deal was made possible through close cooperation between the state and federal governments.
Hajiji also mentioned that Sabah will receive a 20% stake in an oil and gas field in Sandakan secured by Petronas. This is part of a larger agreement aimed at increasing the state's involvement in its own oil and gas industry.