KUALA LUMPUR: Majuperak Holdings Bhd
is teaming up with Petrolife Aero Sdn Bhd to supply natural gas and liquified natural gas to power and utilities companies in Perak.
It said on Friday both parties would set up a special purpose vehicle (SPV) where the end-consumers would be commercial, office and industrial areas in the state.
This corporate exercise would entail the development of a cogeneration facility, including a district cooling plant.
It unit Majuperak Energy Resources Sdn Bhd had signed the agreement with Petrolife Aero, which is an integrated energy company and a government-licensed importer and distributor of LNG and natural gas.
Majuperak Holdings CEO Nizran Noordin said the agreement would enable the group to strengthen its presence in the green energy segment.
“The JV will see the establishment of a cogeneration (cogen) plant which combines a conventional gas power plant and a process steam plant to provide both electricity and heat from a single power plant.
“ Not only is this much more efficient in terms of energy output, it reduces greenhouse gas emissions and energy loss, providing a more sustainable source of energy, ” Nizran said.
As for Petrolife, he said it has vast experience in handling multiple upstream projects with multinational oil companies, local companies and government agencies.
He expected the JV would enable it to leverage on Petrolife’s third party access licence to import and distribute LNG and natural gas supply in the state of Perak.
“This is expected to provide an additional stream of income for the group, supporting business growth over the long-term. Moreover, the cogen plant will provide cost savings for customers, providing further incentive for companies to establish facilities in Perak, ” Nizran said.