Petronas Gas Berhad (PGB) received approval from Malaysia's Ministry of Economy to develop the country's third liquefied natural gas (LNG) regasification terminal in Lumut, Perak. The RGT-3 project will be the first in Malaysia to utilize a floating storage and regasification unit (FSRU) concept.
PGB subsidiary MISC ordered a newbuild FSRU from Samsung Heavy Industries for approximately $329 million. The vessel features a storage capacity of 170,000 cubic meters. It provides a send-out capacity of 500 million standard cubic feet per day (MMscfd).
The development aims to bolster national energy security as industrial growth drives internal demand. Regasified LNG from the terminal will feed into the Peninsular Gas Utilisation (PGU) system. PGB indicated it may pursue the project with a joint-venture partner.