PETALING JAYA: The multi-billion-dollar Gladstone liquefied natural gas (LNG) project in Australia, in which Petroliam Nasional Bhd (Petronas) has a 27.5% stake, faces an extra US$1bil (RM3.2bil) in costs to drill more wells, Reuters reported.
Petronas had acquired a 40% holding in the Gladstone joint venture in 2008 for A$2.5bil (RM7.3bil at today’s exchange rates), but subsequently pared its stake to Paris-based Total SA, which now holds a 27.5% equity.
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