International Business Daily reports that PETRONAS of Malaysia
will supply natural gas to Shanghai before the opening of WORLD
EXPO 2010 Shanghai.
In July 2006, Malaysia LNG Tiga Sdn Bhd, a subsidiary of
PETRONAS signed a sale and purchase agreement with Shanghai LNG
Company Ltd. to supply up to 3.03 million tons of liquefied
natural gas (LNG) annually for 25 years. Shanghai LNG is a 55/45
joint venture between Shenergy Group Company Ltd. and CNOOC Gas
& Power Company Ltd.
In addition, Malaysian government has agreed to build an oil
pipeline from Kedah state, across Perak state to Kelantan state
which faces the South China Sea.
An insider says that oil tankers will offload crude oil in
the coastal town of Yan in Kedah, to be refined. And then, the
refined oil will be transported through the pipeline to Bachok,
Kelantan state, meeting the demand in East Asian market.
The first phase of the pipeline, transporting 2 million
barrels of oil per day, is expected to be constructed in August
2007, with an initial cost of approximately US$2 billion.
Malaysia plans to invest as much as US$ 7 billion over eight
years for this, of which 70% fund from non Malaysian companies.
It is reported that Chinese oil companies represent their
interests in investing.

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