KALABAKAN: The Sabah government is expected to secure a 40 per cent stake in a floating liquefied natural gas (FLNG) project in the state under an agreement to be signed with Petronas in the coming months.
Sabah Chief Minister Datuk Seri Hajiji Noor said the latest development stemmed from close cooperation between the state and federal governments, as well as an earlier agreement with PETRONAS that enabled the state government to play a
more active role in Sabah’s oil and gas industry.
“We expect to sign an agreement with Petronas within the next few months, under which Sabah will receive a 40 per cent stake in the floating gas facility in the state.
“For the oil and gas field in Sandakan that PETRONAS has secured, Sabah will also be given a 20 per cent stake,” he said while launching the ‘Jelajah Rakyat and MADANI Rahmah Sales’ programme for the Kalabakan parliamentary constituency at the Kalabakan District Office Open Hall on Saturday. – BERNAMA
