KUALA LUMPUR, April 28 (Bernama) -- PETRONAS Gas Berhad (PGB), a subsidiary of PETRONAS, recently entered into two separate Sales and Purchase Agreements with Polyplastics Asia Pacific Sdn Bhd (PAP), each, for a 22-year duration.
 
The first agreement was for the supply of steam to PAP, which is a new business secured from the Japan-owned company, while the second one was for the extension of the existing electricity supply by PGB.
 
PGB Managing Director/Chief Executive Officer Kamal Bahrin Ahmad said: “The contract extension is a testimony of our customers’ confidence in us to provide a reliable supply of power at a competitive tariff from PGB’s co-generation (COGEN) plant in Gebeng.”
 
He added that it is also PGB’s aspiration to be a preferred total solutions provider, as reflected by its long-term business relationship with PAP and the other customers based at the Gebeng Industrial Park in Kuantan, Pahang. 
 
Established in 1997, PAP is a wholly owned subsidiary of Polyplastics Limited Company, Japan, and is in the business of engineering plastics. It is a multinational company devoted to innovation and new value.
 
“PAP is proud to enter into a long-term agreement with the infrastructure owners, PGB, which signifies a new phase in our journey towards serving our customers,” PAP Managing Director Yoshimitsu Shirai said.
 
Both the electricity and steam are generated by PGB’s 350MW highly efficient COGEN facility, which has been the main driver since 1999, in providing total utilities solutions and offering competitive power and steam tariff to its customers. Other than Gebeng, PGB also operates similar facilities in Kerteh, to serve the Kerteh Integrated Petrochemical Complex.
 
In addition to the utilities business, PGB also operates two regasification terminals which are strategically located in the Straits of Johor - Regasification Terminal Pengerang (RGTP) and in Melaka - Regasification Terminal Sungai Udang (RGTSU), with a total combined capacity of 660,000 Nm3 (normal cubic metre), which is among the largest in the region.
 
Investment in the two regasification terminals signifies PGB’s commitment in supporting the Government’s third party access initiative, which aims to allow the Energy Commission’s licensed third-party shippers to bring gas into the country. This is expected to liberalise the domestic gas market, increase competitiveness among players in the sector and ensuring sustainable gas supply to the nation.
 
About PETRONAS Gas Berhad
 
PGB was incorporated in 1983 as a wholly-owned subsidiary of PETRONAS and listed on the main market of Bursa Malaysia on 4 September 1995. The Company is 60.66% owned by PETRONAS, while the remaining shares are held by other institutional investors and retail shareholders.
 
It is Malaysia’s leading Gas Infrastructure and Utilities company with core businesses in Gas Processing, Gas Transmission and Regasification. The Company processes natural gas piped from offshore fields and transports the processed gas via the Peninsular Gas Utilisation (PGU) pipeline network to PETRONAS’ customers in Malaysia and Singapore.
 
In addition, the Group also supplies steam, power and industrial gases for its customers at Kerteh Integrated Petrochemical Complex in Terengganu and Gebeng Industrial Area in Pahang.

Issued by
 
Corporate Affairs
PETRONAS Gas Berhad
 
Source: PETRONAS Gas Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Nik Irwan Izanee Nik Abdullah
Tel: +60323925877
Email: irwaniz@petronas.com 

--BERNAMA