Sabah Acquires 25 per cent Stake in PETRONAS PFLNG 3
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Sabah now owns 25 per cent equity in PETRONAS PFLNG 3 Sdn Bhd (also known as ZLNG). Sabah’s SMJ Energy Sdn Bhd and PETRONAS LNG Sdn Bhd formalised the deal on 31 October 2025 in Kota Kinabalu.
The Agreement was a follow-up to the signing of the Heads of Agreement of the acquisition witnessed by Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik in Kuala Lumpur on 17 July 2025.
Hajiji said that the deal will unlock more collaborations in the future. SMJ Energy Sdn Bhd’s diversified portfolio now includes full ownership of Sabah International Petroleum Sdn Bhd (SIP), which operates both FPSO and FSO assets; 50 per cent participating interest in the Samarang Production Sharing Contract; 10 per cent equity interest in PETRONAS LNG 9 Sdn Bhd; 25 per cent equity interest in PETRONAS Chemicals Fertiliser Sabah Sdn Bhd (SAMUR petrochemical plant); and free carry and back-in rights in exploration blocks SB409 (20%), SB403 (20%), SB306A (15%), and SB306B (15%).
PETRONAS PFLNG 3 is presently developing the USD3.1 billion nearshore floating liquefied natural gas (FLNG) at the Sipitang Oil & Gas Industrial Park (SOGIP) which has a production capacity of 2 million tonnes per annum (2.0 MTPA). The facility will commence in mid-2027.
