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10/9/2005
PETRONAS ANNOUNCES SHAREHOLDING IN CENTRICA PLC
PICL, the international division of PETRONAS, the Malaysian national oil and gas company, announces that it has acquired about 4% shareholding in Centrica PLC.
PETRONAS views this shareholding as a long term supportive investment in the UK's leading energy retailing company and hopes to build a positive and constructive relationship with Centrica's Management in the future.
PETRONAS is comfortable with its level of shareholding in Centrica and currently has no intention of purchasing more shares in Centrica PLC.
PETRONAS is one of the world's largest integrated oil and gas companies with net income for the year 2004-5 of US$9.4 billion. PETRONAS is also a leading LNG company operating the world's largest LNG production complex at Bintulu in Malaysia.
In the past three years PETRONAS has expanded its LNG business into the Atlantic Basin. It owns a 35.5% interest in Egypt LNG and is developing a 6 billion cubic meter per annum LNG receiving terminal at Milford Haven with BG and Petroplus which should help ensure that the UK is comfortably supplied with imported gas later in this decade.
Issued by:
Media Relations Department PETRONAS 10 September 2005 Enquiries: UK : Philip Lambert, Lambert Energy Advisory Ltd., Tel: +44 (0)20 7491 4473 Jonathan Wilcox, JPMorganCazenove, Tel: +44 (0)20 7588 2828
Malaysia: George Ratilal, PETRONAS, Tel: +603 2331 7676
Notes to Editors
1. PETRONAS is the National Oil & Gas Company of Malaysia
2. PETRONAS is one of the leading oil and gas companies in the world • The company generated net profits of US$9.4 billion in fiscal year ended 31st March 2005. • PETRONAS had total assets of US$62.9 billion at end March 2005. • PETRONAS is a Fortune 500 company
3. PETRONAS' domestic and international reserves amounted to 25.4 billion barrels of oil equivalent at the end of 2004. Domestic and international production in 2004 averaged 1.6 million barrels of oil equivalent per day. PETRONAS' international production outside Malaysia amounted to some 385 thousand barrels of oil equivalent per day in 2004.
4. PETRONAS is one of the leading LNG companies in the world • Malaysia's annual LNG production capacity is 23 million tones. Malaysia is one of the largest LNG exporters in the world. PETRONAS' Bintulu plant is currently the largest LNG complex in the world. • Malaysia's largest gas customers are Japan, Korea and Taiwan. Malaysia has a 22% share of the Japanese gas market, 21%share of the Korean and 40% share of the Taiwan gas market. • PETRONAS is fully involved in every part of the LNG chain, from liquefaction and shipping to re-gasification and trading. • PETRONAS owns a majority share of Malaysia International Shipping Corp (MISC), which is the largest LNG ship owner and operator in the world with a fleet of 19 LNG carriers.
5. In addition to a broad South East Asian upstream gas portfolio supplying Asia Pacific regional markets, PETRONAS is developing a significant gas exposure to the Atlantic Basin markets. This includes; • Central Asia, where PETRONAS is focused on the development of Block 1 gas reserves in Turkmenistan. • Egypt, where PETRONAS has a 50% working interest in the West Delta Deep Marine concession and a 35.5% interest in the related Egyptian LNG Liquefaction Plant (ELNG). PETRONAS also has a 35.5% interest in Train 1 and 38% interest in Train 2 of the ELNG Plant, which currently has a production capacity of 7.2 million tones per annum.
6. PETRONAS' existing position in the UK gas market includes: • A 30% stake in the Dragon LNG re-gasification terminal which is currently being constructed at Milford Haven, Wales, with a scheduled on stream date of 2007. When on stream Dragon LNG re-gasification terminal will be able to import into the UK 6 billion cubic meters of gas per annum, equivalent to ca. 6% of UK gas consumption. • An approximately 19% interest in Star Energy Plc., a UK listed company developing underground gas storage facilities in the UK. Star Energy's Humbly Grove site in Hampshire is set to become one of a new generation of gas storage facilities with a storage capacity of 10 billion cubic feet per annum. The site is expected to come online in Q4 2005 and will help to secure availability of UK gas supplies into the future.
PETRONAS (Petroliam Nasional Berhad)
PETRONAS Twin Towers 50088 Kuala Lumpur MALAYSIA
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