Sarawak Eyes 10 Pct Equity In MLNG Plant Train 9

KUCHING (Sarawak, Malaysia) Nov 30 (Bernama) -- Sarawak is actively discussing with Petroliam Nasional Bhd (Petronas) on acquiring a 10 per cent equity in the Malaysia Liquified Natural Gas (MLNG) Plant Train 9. Chief Minister Adenan Satem said the state was also working with Petronas to increase its equity in MNLG 2 Plant. He said this in his winding-up speech at the State Assembly sitting here Wednesday. "These developments were among the progress the state had made in the five key areas of negotiations with Petronas," he said. Adenan said another important achievement was the signing of the memorandum of understanding with Petronas to conduct a joint study for Sarawak Petrochemical Masterplan on Apr 3, 2016. "We believe this masterplan will help us develop our petrochemical industries in a strategic way to benefit the state," he said. For its Corporate Social Responsibility (CSR) Adenan said, Petronas had committed to spend US$11.21 million (RM50 million) over five years from 2015-2019 on 10 projects. He gave assurance that despite the uncertainty in the oil market, the negotiation on the state request of oil royalty increase from five to 20 per cent with the federal government and Petronas would continue. -- BERNAMA