Malaysian company Petroliam Nasional Bhd or Petronas has joined the increasing number of local and foreign investors interested in the country’s emerging liquefied natural gas industry.
“Petronas has expressed interest [in LNG] and possible partner of PNOC [Philippine National Oil Co.],” Energy Secretary Alfonso Cusi said.
Petronas, established in 1974, is Malaysia’s fully integrated oil and gas multinational corporation.
The Department of Energy and state-owned PNOC were looking for investors in the country’s $2-billion integrated LNG hub.
PNOC expects to select its joint venture partner for the facility within the year.
“We are still in the process of evaluating the unsolicited proposals with ADB [Asian Development Bank]. We are strongly hoping to find our partner for the LNG project soon,” Jannefer Pelayo, PNOC head executive assistant/chief of staff, said earlier.
PNOC already received seven unsolicited offers from Korea Electric Power Co., Lloyds Energy Group, China National Offshore Oil Corp., Energy World Corp., First Gen Corp., PT. Jaya Samudra Karunia and PT PGN LNG Indonesia/PT Bosowa Corporindo with local partner MOF Corp.