State govt asked to demand why Petronas sold 10 pct stake in LNG9 to Thai firm

KUCHING: The state government should demand for an explanation from Petronas on its disposal of a 10 per cent stake in Petronas LNG9 Sdn Bhd which owns the MLNG Train 9 Project to Thailand’s national oil company and partner PTTGL Investment Ltd ( PTTGLI) for US$ 500 million ( RM2.14 billion).

In making the call, Batu Lintang assemblyman See Chee How said Chief Minister Datuk Amar Abang Johari Tun Openg should also set a 30- day deadline for Petronas to conclude the Shareholders Agreement with Sarawak on the 10 per cent equity in the same MLNG Train 9 project.

“The state administration, particularly the State Secretary who sits in the Board of Directors of Petronas, owes all Sarawakians an explanation why it is taking so long for Sarawak to conclude the deal with Petronas on the 10 per cent equity stake in this MLNG project in Bintulu.

“The offer was made by Petronas in August, 2014 and was immediately accepted by our then chief minister the late Datuk Patinggi Tan Sri Adenan Satem, but for three years, Sarawak’s acquisition has yet to be finalised,” he told a press conference at PKR state headquarters here yesterday.

“Since June, 2014 Petronas has sold a 10 per cent stake in Train 9 to a Japanese company JX Nippon Oil & Energy (JX Nippon), it similarly offered a 10 per cent equity stake in this Train 9 project to Sabah and concluded the present disposal to PTTGLI.”

See, who is state PKR vice chairman, said: “We have been slack in the deal to protect Sarawak’s rights and interests. Not only the three years without concluding the deal, the Petronas-PTTGLI deal was completed while our Chief Minister and State Secretary were on a purported ‘study tour’ to Australia and their silence after their return is deafening.”

He said it appears that the momentum of the good efforts by Adenan to regain and restore Sarawak’s sovereign rights to territorial boundary, autonomous powers and rights has now ‘ hit a snag or lost’.

“With regards to this equity stake in the Train 9 project, the late former chief minister had been most serious in its pursuit. In fact, for the reason that the project is located in Bintulu, he kept emphasising that Sarawak’s equity in the MLNG facilities and projects is in our privilege and nobody can participate in them ( except with Sarawak’s knowledge and consent).”

See said: “Our Chief Minister had repeated his words in the DUN ( State Legislative Assembly) this May in his winding up speech, but the chief minister must be seen to be taking the task in earnest. The disposal of the equity stake in Train 9 to a foreign company last week is utterly unacceptable.”

He hoped that the state administration will hold an inquiry into this breach and demand explanations from all parties concerned.

“And I hope that it will be a thorough inquiry and there will be full disclosure of the findings to be presented to all concerned Sarawakians.”