The Sarawak government subsidiary, Petroleum Sarawak Sdn (Petros) is still in discussions with Petroliam Nasional Bhd (Petronas) regarding the supervision of oil and gas trade in the state according to Sarawak Premier, Tan Sri Abang Johari Tun Openg.
Malaysia's national oil corporation Petronas is considering a court injunction to defend its monopoly over the country's natural resources amid growing demand from Sarawak and increased controls over oil and gas extraction and trading.
However, the talks reportedly reached an impasse and the deadline between the two companies will be set before October 1.
Petros will cooperate with Petronas in the development of both upstream and downstream activities and both have no serious issues.
Tan Sri Johari also assured that long-term contracts for liquefied natural gas (LNG) with partners such as South Korea and Japan will not be affected even though Petros is the sole gas company in Sarawak.
He also said during the APPEC 2024 Conference, the Sarawak government has equity in LNG and he does not want to destroy it. The company's current contracts with customers remain strong.
He also acknowledged concerns in the industry about possible disruptions to gas supplies if Petros takes over the role of aggregator and assured that both companies have a vested interest in the operation.
