Kota Kinabalu: The launch of the RM8.88 billion (USD2 billion) Oil and Gas, Energy Hub Project at the Sipitang Oil and Gas Industrial Park (Sogip) is set to play a pivotal role in Malaysia's energy and industrial strategy.
Chief Minister Datuk Seri Hajiji Noor said it would establish Sabah as a key hub in Southeast Asia's energy sector.
"Sogip will serve as a catalyst for further growth in the energy sector, which is crucial for Sabah's sustained economic growth. Most importantly, this project will open up more opportunities for collaboration, innovation, and development in the oil, gas, and energy sectors, which will benefit both the industry and local communities," he said.
The Chief Minister said the Sogip development will strongly emphasise on environmental sustainability.
"As Malaysia moves toward reducing its carbon footprint, the integration of cleaner energy sources, such as LNG, plays a crucial role in the country's energy transition strategy. Moreover, the energy storage and distribution systems within Sogip are being developed to support Malaysia's long-term renewable energy goals.
"By facilitating a steady supply of natural gas and other lower-carbon fuels, Sogip can help bridge the transition from fossil fuel dependency to greater adoption of renewables, such as solar and wind power, in Malaysia's energy mix," he said at the launching ceremony of the Oil and Gas, Energy Hub Project held at the Sabah International Convention Centre (SICC), here, Tuesday.
