RM500m oil and gas venture with Japan | Daily Express Online

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RM500m oil and gas venture with Japan

Published on: Monday, June 20, 2022

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From left: Roslan, Takemi Kamogawa, Abdul Kadir, Masidi, Dolly and Benedict.

STATE Second Finance Minister Datuk Seri Masidi Manjun witnessed the signing of a Memorandum of Understanding (MoU) between Sabah Oil and Gas Development Corporation (SOGDC) and Global FCNG Inc. (GFCNG) of Japan for a gas project in the Sipitang Oil and Gas Industrial Park (Sogip).The signing was held at the closing of the 9th Sabah Oil and Gas Conference and Exhibition 2022 at the Sabah International Convention Centre (SICC), Kota Kinabalu, on June 10.
Signing on behalf of GFCNG were its President and CEO Takemi Kamogawa and Chairman Roslan Yahaya, while SOGDC was represented by its CEO Abdul Kadir Damsal with Masidi, SOGCE organiser Dolly Jimayol, Petronas Vice President Bacho Pilong and Deputy Permanent Secretary of the Industrial Development Ministry, Benedict Bisoni, as witnesses.

On the FCNG project, Global FCNG Inc. at its 21st Board Meeting approved an estimated RM500 million in investment value to develop its FCNG Maritime Technology and Logistics.
It is to transport offshore waste gas such as flare gas and stranded gases from proximate Sabah fields to be used in Sogip for power and feedstock.
Global FCNG Inc. is a company incorporated in Japan and focuses primarily on the development of upstream and midstream natural gas transportation component technology.
It has initiated solutions to the maritime transportation of natural gas to its market using its methodological concepts and experimental designs to meet the growing demand for the commodity for industrial and commercial use.
Its consortium partners include Kyushu Electric Power Co., Inc. (Kyuden), Saibu Gas Co., Ltd. and IINO Lines.

Kyuden was founded in 1951 and is one of the major power utilities in Japan, supplying electricity mainly in Kyushu Province, buying some five million tonnes of LNG annually.
Saibu Gas Group is based in Fukuoka, engaged primarily in the liquefied petroleum gas, other energy business as well as real estate business.
IINO Lines is in the maritime shipping business owning and operating oil, chemical and LNG/LPG specialised tankers or carriers.
SOGDC and Universiti Teknologi Mara also signed a MoU at the event.
Habibah Binti Enok, Mida Director of Oil and Gas, Maritime and Logistics Services Division, presented a paper on “Investment Opportunities in Oil and Gas Industry Sabah” at the event. Habibah is a former Sabah Mida Director.

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