August 20, 2015 / 4:33 PM / 5 years ago

Shell transfers stake in Malaysia MLNG plant to Petronas

KUALA LUMPUR, Aug 21 (Reuters) - Royal Dutch Shell unit Sarawak Shell Bhd has transferred its 50 percent stake as operator of the MLNG Dua liquefied natural gas (LNG) plant to Malaysian state oil firm Petroliam Nasional Bhd (Petronas) , Petronas said on Friday.

The Petronas statement did not give further details or any value attached to the move.

Petronas’ subsidiaries now wholly own the operator of the LNG producer in the Borneo state of Sarawak in Malaysia, according to a statement by Petronas. Shell operated MLNG Dua via a production sharing contract signed with Petronas since 1993.

Malaysia is the world’s second-largest exporter of LNG, according to the U.S Energy Information Administration. LNG revenues made up some 2.7 percent of the Southeast Asia nation’s gross domestic product, according to World Bank data. (Reporting By Yantoultra Ngui, editing by William Hardy)

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