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Kuala Lumpur: Petronas is currently building its third floating LNG vessel (FLNG) for Sabah, according to the national oil corporation’s President and CEO Tengku Tan Sri Muhammad Taufik Tengku Aziz.

The facility costing RM2 billion is expected to be commissioned in 2027.

Floating LNG vessels are crucial in extracting gas from smaller or deeper waters – and hence difficult – fields. Petronas is the first energy company in the world to produce Liquefied Natural Gas from floating facilities which are more sustainable and economical.

“We are doing one more and its ZLNG. We need to get out the gas. We believe monetising them is the way forward and Petronas is getting noticed for it. 

“Our partners want to bring us into their countries knowing we have successfully designed, constructed, operated and now maintained floating LNG ships,” he told Daily Express.