Petronas: PIC to come online as scheduled
PIC has reportedly achieved 77% completion and is poised for its start-up by the first quarter of 2019.
The company had previously launched two major facilities to provide gas and electricity for the refinery and petrochemical plants at the PIC project, namely Regasification Terminal 2 (RGT2) and Pengerang Co-generation Plant (PCP).
The company also stated that the project was not affected by volatile crude prices and the pricing issues regarding LNG.
The project, which is expected to generate RM8.3 billion ($1.95 billion) in gross national income by 2020, will reportedly increase the country’s refinery capacity by 300,000 b/d to 955,000 b/d.
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