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Petronas and Sabah Oil & Gas Development Corporation (SOGDC) have signed a key memorandum of understanding (MoU) that will see the Malaysian national energy company build Sabah’s first and largest near-shore floating liquefied natural gas (LNG) facility estimated to cost MYR8.8 billion ($2.02 billion). The project, expected to be able to process at least 2 million tonnes per year (t/y) of LNG, is known as ZLNG and will be located at Sipitang Oil and Gas Industrial Park (SOGIP). Under the MoU signed last week, Petronas and SOGDC, which is a Sabah-based agency spearheading the development of the state’s downstream oil and gas industry, will collaborate to make the project a reality with SOGDC committing to assist Petronas to secure all necessary approvals and permits with SOGIP as the developer.