Abang Johari secures USD1B gas investment

BANGKOK: Sarawak is poised to attract a USD1 billion investment into its downstream natural gas industry following a high-level meeting between Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg and global petrochemical giants in Asia here today.

The proposed investment, involving Indorama Ventures Public Company Limited (IVL) and two Japanese companies, will focus on developing high-value downstream products from natural gas, with Bintulu earmarked as the key industrial hub.

Speaking to reporters after a courtesy meeting with IVL Group Global CEO and founder Aloke Lohia and representatives from the two Japanese companies at The Ritz-Carlton, Bangkok, Abang Johari said the project would strengthen Sarawak’s push towards a low-carbon petrochemical economy while creating skilled employment opportunities.

“This investment will enable us to utilise our gas resources to create high-value jobs while helping realise a low-carbon petrochemical industry, particularly in Bintulu,” he said.

The meeting took place ahead of the Premier’s participation in the prestigious Ministerial Panels and Roundtables at Gastech 2026 at the Bangkok International Trade and Exhibition Centre (BITEC).

Abang Johari revealed that further negotiations would be undertaken between Indorama Ventures and Petchem Sarawak to formulate and develop the proposed project.

He said another round of discussions is scheduled for October during an international conference in Bangkok, where Sarawak will be represented by Deputy Minister for Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni alongside Petchem Sarawak officials.

Headquartered in Bangkok, IVL is one of the world’s leading chemical and recycling companies and the largest global producer and recycler of PET (polyethylene terephthalate) resins.

Founded by Aloke Lohia, the company has expanded into a multinational petrochemical powerhouse with operations across numerous countries.

The proposed investment reinforces Sarawak’s strategy of monetising its abundant gas resources through value-added manufacturing rather than exporting raw commodities, positioning the state as a regional centre for sustainable petrochemical development.