A unit of Petronas has awarded a contract to MISC Berhad for the supply, operation and maintenance of a floating LNG import terminal (FSRU), marking the development of Malaysia’s third regasification facility.
The project reflects growing efforts by Malaysia to strengthen its LNG import capacity despite being one of the world’s leading LNG exporters. The new terminal is expected to enhance supply flexibility and support rising domestic gas demand, particularly for power generation and industrial use.
Floating storage and regasification units (FSRUs) offer faster deployment and lower upfront costs compared to onshore terminals, making them a preferred option for expanding import infrastructure. The addition of a third terminal is expected to improve energy security and ensure stable gas supply amid evolving market dynamics.