TotalEnergies agrees to seek 30% stakes in two Malaysian gas areas
The proposed project could supply gas to Malaysia’s existing LNG facilities.
Tuesday 3 November · 18:01 · 1 min read
In 30 seconds
- TotalEnergies agreed with regional energy companies to pursue a 30% stake and operator role in the Lang Lebah and B14 gas areas offshore Malaysia. [1]
- After the proposed transaction, PTTEP and KUFPEC would each hold 25%, while PETRONAS subsidiary PCSB would hold 20%. [1]
- The two areas are planned for joint development, with expected output of about 10 billion cubic metres of gas a year. [1]
What happened
TotalEnergies announced an agreement with PETRONAS subsidiary PCSB, Thailand’s PTTEP and Kuwait’s KUFPEC to pursue a 30% stake and operator role in two offshore gas areas near Sarawak, Malaysia. The Lang Lebah and B14 areas are planned to be developed together and are expected to produce about 10 billion cubic metres of gas a year for the existing Malaysia LNG facilities. The proposed ownership after the transaction is 30% for TotalEnergies, 25% each for PTTEP and KUFPEC, and 20% for PCSB.
Why it matters
The project is intended to add gas supply for Malaysia’s LNG facilities and meet demand in Asia. The report describes an overseas project and does not state a direct effect on consumers in Cambodia.
Background
TotalEnergies said the two areas could hold more than 6.5 trillion cubic feet of natural gas. The company said it has operated in Malaysia since 1985 and became the country’s third-largest gas producer after acquiring SapuraOMV Upstream in 2024.
Key terms
- Stake
- A share of ownership in a company or project.
- Operator
- The company responsible for managing day-to-day work at a project or site.
- LNG
- Natural gas cooled into liquid form so it can be stored and transported more easily.
- Offshore gas area
- A sea area where companies explore for or develop natural gas.
Timeline
- 1985 TotalEnergies said it began operating in Malaysia.
- 2024 TotalEnergies acquired SapuraOMV Upstream, according to the company’s statement.
- November 2026 TotalEnergies announced an agreement to pursue a 30% stake and operator role in Lang Lebah and B14.
Sources (1)
[1] Kampuchea Thmey TotalEnergies ចុះកុងត្រាជាមួយ PETRONAS, PTT ដើម្បីគ្រោងទិញភាគហ៊ុន ៣០% នៅតំបន់រុករកឧស្ម័ន ២ នៅម៉ាឡេស៊ី 3 Nov Read originalWas this explainer clear?
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