IEV Energy, Gas Malaysia Extend Deadline for LNG Feasibility Study

 IEV Holdings Limited said that the Group and Gas Malaysia have extended the deadline of the Feasibility Study on LNG Distribution in Malaysia, from 16 January 2013 to 15 March 2013, as more time is required for the study.

The Company had on 15 October 2012, through its wholly-owned subsidiary, IEV Energy, entered into a MOU with Gas Malaysia to conduct a feasibility study to review the prospects of cooperating and successfully undertaking projects for the processing, transporting and marketing of LNG to industrial consumers in the Peninsular Malaysia who are not connected to Gas Malaysia’s natural gas pipeline system.

Should the Feasibility Study indicate that the LNG projects are feasible, the Parties shall agree to negotiate an exclusive Joint Venture Agreement.

Save for the extension to the deadline of the Feasibility Study, there is no change to the remaining terms as set out in the MOU.

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LNG World News Staff, January 16, 2013; Image: IEV