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Sabah Energy inks multiple natural gas sales agreements with major investors

KOTA KINABALU, March 6 (Bernama) -- Sabah Energy Corporation Sdn Bhd (SEC) has inked multiple natural gas sales agreements (GSAs) and heads of agreement (HOA) with major investors in the state. 

In a statement, Sabah Chief Minister Datuk Seri Hajiji Noor said that with this development, the state’s largest domestic supplier and transporter of natural gas is now playing an integral role in supporting the growth of industries and economic development in Sabah.

“This augurs well for the state’s economic growth in line with the state government’s aspiration under its Sabah Maju Jaya initiative,” he said after witnessing the GSAs and HOA signing ceremony, here today.

The first GSA was signed between SEC and SBH-Kibing Solar New Materials (M) Sdn Bhd for its silica sand processing and solar panel manufacturing project.

SBH Kibing is investing RM2 billion in Sabah, which is expected to bring huge benefits to the state in terms of foreign direct investment, about 1,800 employment opportunities for Sabahans, and other tangible economic spin-offs.

SEC also signed a GSA with SK Nexilis Malaysia Sdn Bhd for a RM4.2 billion investment in building its first overseas copper foil manufacturing facility at the Kota Kinabalu Industrial Park, which is expected to create about 500 job opportunities.

This deal was part of Sabah’s efforts to promote non-power sector industries in the state and position the state as a hub for electric vehicle components.

SEC also inked a gas sales HOA with Petronas Gas Bhd’s subsidiary, Regas Terminal (Lahad Datu) Sdn Bhd, for the supply of natural gas.

“Through this long-term gas supply agreement, SEC would undertake the role of gas supplier to the recently-announced RM230 million plant project at the Sipitang Oil and Gas Industrial Park (Sogip),” said the statement.

It also said that the plant project, targeted to be completed in the first quarter of 2026, would play an integral role as the sole energy supplier to the state’s first near-shore two million tonnes per annum floating liquefied natural gas facility, in addition to serving as a potential energy source for future consumers in Sogip.

The statement added that on January 17, 2023, SEC concluded the natural gas sales novation agreement with Petroliam Nasional Bhd (Petronas), Petronas Carigali Sdn Bhd and existing independent power producers (IPPs), with a total capacity of 880 megawatts.

“The novation agreement marked the significance of the state-owned company as a major natural gas supplier for the power sector,” it said.

Representatives from the IPPs, namely Kimanis Power Plant Sdn Bhd, SPR Energy (M) Sdn Bhd, Ranhill Powertron Sdn Bhd, Ranhill Powertron II Sdn Bhd, and Sepangar Bay Power Corp Sdn Bhd, were present to receive the signed documents from SEC.

-- BERNAMA

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