London-based E.A. Gibson Shipbrokers Ltd. and Sabah state government agency Sabah Oil & Gas Development Corp. (SOGDC) signed a memorandum of understanding to develop oil and gas facilities at the Sipitang Oil and Gas Industrial Park (SOGIP) in Sabah, Malaysia.
SOGDC’s CEO Datuk Harun Ismail said the collaboration will unlock energy availability for domestic and international markets, marking SOGIP as one of the key hubs in the region.
SOGDC said it’s aiming for a long-term cooperation with Gibson to create “high-quality” jobs in the state of Sabah.
The feasibility study for the proposed project is underway, with completion scheduled for May 2024.
Recommended Reading
Exxon’s Guyana Gas Project a “Win-Win,” Set for Hook-up by Year-end ‘24
2024-04-26 - Exxon Mobil Corp. CEO Darren Woods said the company’s gas-to-power project in Guyana as a “win-win proposition particularly for the people of Guyana” when completed and hooked-up by year-end 2024.
Segrist: The LNG Pause and a Big, Dumb Question
2024-04-25 - In trying to understand the White House’s decision to pause LNG export permits and wondering if it’s just a red herring, one big, dumb question must be asked.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
US Refiners to Face Tighter Heavy Spreads this Summer TPH
2024-04-22 - Tudor, Pickering, Holt and Co. (TPH) expects fairly tight heavy crude discounts in the U.S. this summer and beyond owing to lower imports of Canadian, Mexican and Venezuelan crudes.
What's Affecting Oil Prices This Week? (April 22, 2024)
2024-04-22 - Stratas Advisors predict that despite geopolitical tensions, the oil supply will not be disrupted, even with the U.S. House of Representatives inserting sanctions on Iran’s oil exports.