Houston-based McDermott and Malaysia’s MISC have secured separate contracts from a unit of Petronas for a gas project offshore Brunei, which will send gas supplies to the Brunei LNG plant.
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Malaysian energy giant Petronas reported a rise in its liquefied natural gas (LNG) sales and net profit for the first half of this year compared to the same period last year.
Malaysia’s LNG shipping player MISC, a unit of Petronas, said its LNG business logged a drop in operating profit and revenue in the second quarter of this year. MISC also expects spot LNG carrier rates to remain volatile in the near term because of uncertainties around the Strait of Hormuz situation.
Egypt, which has turned to LNG imports over the last two years to cover domestic natural gas shortages, will receive more much-needed gas supplies after UK-based LNG giant Shell and its partners took a final investment decision on the Phase 12a development project in the West Delta Deep Marine (WDDM) concession.