KUALA LUMPUR: Petronas Gas Bhd (PetGas) is allocating a slightly higher capital expenditure (capex) of RM1.4bil for the financial year ending Dec 31, 2022 (FY22) compared with RM1.2bil in FY21, Bernama reported.

       Managing director/chief executive officer Abdul Aziz Othman said PetGas is expecting more maintenance work in FY22 as the country transitions into the endemic phase.

       “We also expect to see more progress in the growth projects that we announced last year,” he told a virtual press conference after PetGas’ AGM yesterday.

       Abdul Aziz said PetGas would continue to seize opportunities to deliver gas solutions in a responsible and sustainable manner this year while progressing and realising its identified growth projects.

       “These include pursuing integrated solutions for power and utilities at new industrial zones in Malaysia, growing power generation and regasification capacities both in Malaysia and regionally, as well as seizing opportunities brought about by the energy transition,” he added.

       On PetGas’ exports of liquefied natural gas (LNG), Abdul Aziz said there would be a need for more storage capacity, given the rising demand for LNG.

       PetGas currently owns two ISO tanks in Pengerang.

       “If everything goes well, we should be able to say whether we need to proceed with a third tank by year-end,” he added.

       On another note, PetGas chairman Adnan Zainal Abidin said the one-off prosperity tax would not significantly impact the company’s ability to provide dividend payments.