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The Sabah government, via SMJ Energy Sdn Bhd, has signed a head of agreement with Petronas LNG Sdn Bhd to acquire a 25% stake in the US$3.1 billion nearshore floating LNG (ZLNG) facility in Sipitang, expected to start operations in late 2027. Chief Minister Hajiji Noor said this strategic investment will enhance energy security, industrial growth, and economic resilience. Sabah also plans to acquire a 40% interest in PFLNG1 by 2025. SMJ Energy’s portfolio now includes stakes in LNG9, SAMUR, and multiple exploration blocks. Additionally, Sabah will supply gas to E-Steel’s RM31 billion green steel plant at SOGIP, supporting industrial diversification.
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