PETRONAS, through Malaysia Petroleum Management (MPM), will continue to supply 16 million standard cubic feet of gas per day (MMscfd) to Sabah Electricity Sdn. Bhd. (SESB) for electricity generation under a recently formalized five-year Gas Sales Agreement (GSA).
The agreement, signed on June 30, was recently commemorated with a formal document exchange ceremony, marking an important milestone in bilateral cooperation. During the event, representatives of both parties highlighted the importance of this agreement to strengthen economic and energy ties between the regions, underscoring the crucial role that gas will play in the future of their economies.
This collaboration reflects the commitment of both parties to efficient and responsible energy solutions, where natural gas is positioned as a key resource to promote sustainable development. Both Sabah and Labuan will see their economies benefit from this alliance, which seeks to balance economic growth with environmental protection, while ensuring a stable energy supply with low environmental impact.
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MPM Senior Vice President Datuk Ir. Bacho Pilong: “This gas sales agreement is a testament to our long-standing partnership with SESB and our shared ambition to ensure a sustainable energy future for Sabah. “PETRONAS remains committed to supporting Sabah’s industrial development by ensuring stable and sustainable energy supply, which will be vital in driving the state’s growth.”
The CEO of SESB, Ir. Ts. Mohd Yaakob Jaafar, added: “We are delighted to continue our strong partnership with PETRONAS to drive Sabah’s economic progress. “This agreement is key to satisfying the State’s energy demand with reliable and sustainable solutions.”
Both Sabah and Labuan will see their economies benefit from this alliance, which seeks to balance economic growth with environmental protection
The GSA aligns with PETRONAS’ broader strategy to drive growth through sustainable energy initiatives, while SESB continues to focus on improving energy solutions that support Sabah’s socio-economic development.
PETRONAS remains committed to ensuring the nation’s energy supply while advancing low-carbon and low-emission operations, in line with its goal of achieving net zero carbon emissions by 2050.
Source: https://reporteasia.com/negocios/energia/2024/10/04/petronas-acuerdo-quinquenal-venta-gas-suministro-energetico-sabah-labuan/
