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The company announced in a stock exchange filing on Monday that it received a letter of award from Lumut Maritime Terminal on May 15.
Muhibbah said the award is for the engineering, procurement, construction and commissioning (EPCC) of LNG Regasification Terminal 3 (RGT-3) marine structure and ancillary works, at Lumut Maritime Terminal 2 (LMT2) in Perak.
Moreover, the total estimated value of the contract is approximately 300 million ringgit ($73.9 million).
It is expected to be completed by July 1, 2028, according to Muhibbah.
Malaysia’s Petronas Gas, a unit of Petronas, recently signed a jetty usage agreement for the country’s first FSRU-based LNG import terminal with Lumut Maritime Terminal.
Petronas Gas also signed a binding deal with compatriot Integrax, a part of TNB Power Generation, to jointly develop the FSRU-based facility.
The purpose of the HoA is to establish a formal collaboration between the two companies to jointly develop the third regasification terminal in Lumut (RGT-3).
According to Petronas Gas, a special purpose vehicle will be incorporated by both parties upon finalization and signing of the SHA.
The FSRU-based facility is designed with an LNG storage capacity of 170,000 cbm and a regasification sendout capacity of 500 MMscfd.
The RGT-3 capacity is being underwritten by TNB Fuel Services in stages, with full capacity underwritten from 2030 onwards, Petronas Gas said.
MISC’s FSRU
The RGT-3 terminal includes a floating storage and regasification unit (FSRU), which will be provided by MISC, also a unit of Petronas.
Petronas Gas said the regasified LNG will then be transported via a connecting pipeline from RGT-3 onshore and berthing facilities to the onshore grid.
MISC recently ordered one FSRU from South Korean shipbuilder Samsung Heavy Industries.
The order is valued at 484.8 billion won, or approximately $329 million.
Samsung Heavy will deliver the FSRU by February 2029.
Petronas currently operates the offshore LNG regasification terminal in Sungai Udang, Melaka (RGTSU) and the onshore LNG regasification terminal in Pengerang, Johor (RGTP).