Gas Malaysia Bhd has received a letter to proceed (LTP) from the Energy Commission for its proposed liquefied natural gas (LNG) regasification terminal (RGT) project in Yan, Kedah, with total development costs estimated between RM2 billion and RM3 billion.
In a filing with Bursa Malaysia, the company said the RGT Yan project, to be located offshore west of Pulau Bunting, is planned as a floating storage and regasification unit (FSRU). The facility is expected to have a regasification capacity of up to six million tonnes per annum, enhancing the country’s gas supply infrastructure.
Gas Malaysia noted that the LTP is subject to several conditions set by the Energy Commission, which must be fulfilled within a specified timeframe before the project can proceed to the next stage of development.
Once completed and operational, the project is expected to strengthen Gas Malaysia’s position in the energy sector and contribute positively to the group’s long-term earnings, while supporting growing demand for natural gas in the region.
