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Northbridge Industrial Services Plc

Petronas in for third FLNG unit if economics right

Malaysian oil and gas company Petronas would build a third Floating LNG unit if there’s a demand, Malaysian news agency Bernama reported Monday, citing the company’s executives.

Petronas last week in South Korea held a naming ceremony for its second floating liquefaction unit – the PFLNG DUA. The FLNG – which had been delayed after oil price drop in 2014-2015 – is designed to extract gas from deepwater gas reservoirs in depths up to 1,500 meters and will be Petronas’ second FLNG unit in operation after the company brought online the PFLNG SATU in 2017.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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