Petronas Gas completes transfer of gas processing, utilities businesses
KUALA LUMPUR: Petronas Gas Bhd (PGB) has completed the transfer of its gas processing and utilities businesses to two subsidiaries under the proposed internal reorganisation effective Nov 1, 2026.
KUALA LUMPUR: Petronas Gas Bhd (PGB) has successfully transferred its gas processing and utilities businesses to two newly established subsidiaries under the proposed internal reorganization, effective November 1, 2026. In a recent filing with Bursa Malaysia, PGB disclosed that its gas processing operations were handed over to PG Gas Processing Sdn Bhd, while the utility business was transferred to PG Utilities East Sdn Bhd, upon meeting the necessary conditions set forth in their respective business transfer agreements (BTAs).
Certain preconditions, including receiving approvals from relevant authorities and obtaining new licenses and approvals, have been waived as per the terms of these BTAs.
The gas processing subsidiary, PG Gas Processing, and the utility subsidiary, PG Utilities East, commenced their operations on November 1. The transfer of the gas transportation business to PG TransCo Sdn Bhd, as part of the same internal reorganization, is scheduled to occur at a later date, contingent upon the fulfillment of conditions precedent detailed in the relevant BTAs.
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