NST Online Business Times : latest

Posted: 24 Jul 2011 06:03 PM PDT

Qatar Liquefied Gas Co, known as QatarGas, agreed to supply Malaysia's state-owned Petronas LNG Ltd with 1.5 million metric tons of liquefied natural gas annually.

The gas, cooled to liquid form for transport by sea, will be sold to Malaysia for at least 20 years starting in 2013, the two companies said in an e-mailed statement today. The gas equates to about 5 per cent of Malaysia's current gas demand, the companies said.

The agreement marks QatarGas's first supply agreement to Southeast Asia, QatarGas Chief Executive Officer Khalid Bin Khalifa Al Thani said in the statement.

Qatar, the world's largest LNG exporter, is diverting LNG originally intended for the US to markets such as China amid growing US domestic gas production and reduced dependence on imports. QatarGas said June 29 that it agreed with Energia Argentina SA to sell Argentina five million tons of LNG a year starting in 2014.

Malaysia, the world's second-largest LNG exporter in 2009, has turned to imports to meet domestic gas demand which, according to the statement, is growing at 6 per cent a year. -- Bloomberg

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Hibiscus Petroleum falls in listing debut

Posted: 24 Jul 2011 06:13 PM PDT

Hibiscus Petroleum Bhd, a Malaysian company yet to have an income-generating business, fell 25 per cent in its debut on the Kuala Lumpur stock exchange.

The stock dropped 18.5 sen to 56.5 sen at 9:04 a.m. local time.

The company, which was specifically set up to undertake an initial public offering to raise funds for potential acquisitions of oil and gas companies, sold shares at 75 sen each in its IPO, according to its prospectus. -- Bloomberg

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Kredit: www.nst.com.my

Ahad, 24 Julai 2011

NST Online Business Times : latest

NST Online Business Times : latest

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