KUALA LUMPUR: Petronas Gas Bhd has committed to allocating a capital expenditure (capex) of RM8.1 billion for the next five years, mainly to fund its regasification terminals in Lahad Datu and Pengerang.
Chairman Datuk Anuar Ahmad said the capex, to be utilised from end-2012, will be allocated from its parent Petronas Bhd’s total group capital spending of RM60 billion from 2011.
“We had committed to start utilising the funds from the end of last year,” he told reporters after the company’s annual general meeting, here yesterday.
For this year, Anuar said PGB is looking to spend about RM1 billion of the five-year capex, mainly to fund its plant rejuvenation and revamp (PRR) in Kertih and Kemaman, Terengganu.
Last year, up to RM700 million in capex was spent by the company, mainly for the development of the Melaka LNG regasification terminal, which was commissioned earlier this month.
“The investment, next year, will be focused on Pengerang and Lahad Datu,” he said.
Meanwhile, Anuar said the Melaka LNG Regasification Terminal is expected to contribute four to five per cent to the entity’s bottom line, for the current financial year ending Dec 31, 2013.
On an annual basis from next year, he said the company expects a 10 per cent profit contribution from the gas terminal.
“The plant was commissioned on April 30 this year and we expect to see about a five per cent contribution for the second half of this financial year, and about 10 per cent contribution annually,” he added.
Anuar said the group had been in talks with interested parties who want to import gas, but have come to no decisions yet.
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