Petronas LNG9, a subsidiary of Petronas, owns the ninth LNG liquefaction train (Train 9) in the Petronas LNG complex in Bintulu, Sarawak.

In a statement today, See who is also Batu Lintang assemblyman said the disposal of the stake to PTTGL Investment Ltd (PTTGLI) was “utterly unacceptable”.

“The state administration, particularly the Sarawak state secretary who sits on the board of directors in Petronas, owes all Sarawakians an explanation on why it is taking so long for Sarawak to conclude their deal with Petronas on the 10% equity stake in this MLNG project in Bintulu,” he said.

He pointed out that the offer had been made by Petronas in August 2014 and was immediately accepted by Adenan Satem, who was chief minister at the time.

“But for three years, Sarawak’s acquisition has yet to be finalised.”

Meanwhile, between June 2014 and now, he said Petronas had sold a 10% stake in Train 9 to Japan’s JX Nippon Oil & Energy and offered a 10% equity stake in the project to Sabah aside from concluding the disposal to PTTGLI.

He added that Adenan had been “most serious” about the equity stake in the Train 9 project, and had stressed that Sarawak’s equity in the MLNG facilities and projects was the state’s privilege.

“Our CM (Abang Johari Openg) had repeated his words in the state assembly this May, in his winding up speech, but the CM must be seen to be taking the tasks in earnest,” See said.

He urged Abang Johari to set a 30-day deadline for Petronas to conclude the shareholders agreement with Sarawak on the 10% equity in the MLNG Train 9 project.

He also expressed hope that the state administration would hold an inquiry into the breach and demand explanations from all parties concerned.

Petronas disposed of the 10% stake to PTTGLI on July 27. According to an exchange filing, the transaction is expected to be completed by September.