Petronas takes full ownership of the Pengerang Integrated Complex as Malaysia strengthens energy security, expands global investments and develops low-carbon fuels.
PETALING JAYA: Petronas is set to strengthen Malaysia’s energy security and position Pengerang as a strategic fuel supply hub following its transition to full ownership of the Pengerang Integrated Complex, amid growing uncertainty in global energy markets.
Finance Minister Datuk Seri Anwar Ibrahim said the move would allow Petronas to optimise production of higher-value products while leveraging technology and expertise from international partners.
He said Petronas’ expansion into Phase 2 of LNG Canada, its petroleum discovery in Suriname and potential involvement in developing Turkmenistan’s Galkynysh gas field would further strengthen Malaysia’s position in the global energy market.
Meanwhile, the Pengerang Biorefinery project, developed with Enilive, Eni and Euglena, will expand production of low-carbon fuels, including sustainable aviation fuel, hydrotreated vegetable oil (HVO) and bio-naphtha.
Anwar added that Petronas and Tenaga Nasional Berhad’s participation in the Asean Power Grid would also strengthen regional energy security, economic cooperation and cross-border connectivity.
