PETRONAS Signs Five Year Gas Sales Agreement to Ensure Secure Energy Supply for Sabah and Labuan

Kota Kinabalu, 1 October 2024 – PETRONAS, through Malaysia Petroleum Management (MPM), will continue supplying 16 million standard cubic feet of gas per day (MMscfd) to Sabah Electricity Sdn. Bhd. (SESB) for power generation under a newly formalised five-year Gas Sales Agreement (GSA).

The agreement, signed on 30 June, was recently commemorated with a formal document exchange ceremony.

This collaboration reflects both parties’ commitment to efficient and responsible energy solutions where gas will play a key role in fueling the domestic economies of Sabah and Labuan.

MPM Senior Vice President Datuk Ir. Bacho Pilong said, “This Gas Sales Agreement is a testament to our enduring partnership with SESB and our shared ambition in securing a sustainable energy future for Sabah. PETRONAS remains committed to supporting Sabah’s industrial development by ensuring a stable and sustainable energy supply, which will be vital in driving the state’s growth.”

Chief Executive Officer of SESB, Ir. Ts. Mohd Yaakob Jaafar added, “We are delighted to continue our strong partnership with PETRONAS to power Sabah’s economic advancement. This agreement is key to meeting the state’s energy demands with reliable and sustainable solutions.”

The GSA aligns with PETRONAS’ broader strategy to drive growth through sustainable energy initiatives, while SESB continues to focus on enhancing energy solutions that support Sabah’s socio-economic development.

PETRONAS remains committed to securing the nation’s energy supply while advancing low-carbon and low-emission operations, in line with its goal of achieving net-zero carbon emissions by 2050.

For more information on investment opportunities in Malaysia, please visit https://www.petronas.com/mpm/