KUALA LUMPUR, March 18 — Gas Malaysia Bhd has received a letter to proceed (LTP) from the Energy Commission (EC) for its liquefied natural gas (LNG) regasification terminal (RGT) project in Yan, Kedah, with development costs estimated at RM2 billion to RM3 billion.

In a filing with Bursa Malaysia, the company said that RGT Yan, west of Pulau Bunting, is envisaged as an offshore floating storage and regasification unit with a planned regasification capacity of up to six million tonnes per annum.

The gas provider company said the LTP is subject to certain conditions imposed by the EC, which the company is required to fulfil within the stipulated timeline, in order to progress the development of the project.

The project is also expected to contribute positively to the future earnings of the Gas Malaysia group upon its commissioning and completion. — Bernama