Keppel inks contract with Petronas

KEPPEL ENERGY   OIL & GAS   CONTRACT

Singapore - Keppel Energy has inked an agreement with Petroliam Nasional Berhad, or Petronas, to import more fuel.

The gas sales agreement with the national oil and gas company of Malaysia, estimated to be worth about US$2.2 billion (SG$2.7 billion), was signed on 20 April this year.

The agreement will allow Keppel Energy,a subsidiary of Singapore conglomerate Keppel Corporation Limited, to import an additional 43 million cubic feet of natural gas per day from their various supply networks. The gas obtained will then be used to support the energy needs of customers of the company.

The agreement is not expected to materially impact the net tangible assets or earnings per share of Keppel Corporation for the current financial year, according to its press statement.

Keppel Energy, part of the infrastructure division of Keppel Corporation, has developed, owned and operated power plants in Brazil, China, the Philippines and Nicaragua. Locally, it operates a 500-megawatt gas-fired combined cycle power plant on Jurong Island. _________________________________________________________________________________

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