Conclusion of Joint Development Agreement for LNG Receiving Terminal Development in Malaysia

Tokyo Gas Co., Ltd. (President and CEO: Shinichi Sasayama, hereinafter 'Tokyo Gas') signed a joint development agreement on May 15, 2026, with Gas Malaysia Berhad (President and Group CEO: Azri Mohamad, hereinafter 'Gas Malaysia') and VTTI B.V. (CEO: Guy Moens, hereinafter 'VTTI'), an energy storage and terminal company, for the LNG receiving terminal 'RGT Yan' (hereinafter 'the Terminal') in Malaysia.

The Terminal is planned to be installed off the coast of Pulau Bunting in Yan District, Kedah State, Malaysia, using an FSRU (Floating Storage and Regasification Unit). It will handle LNG receiving, storage, and regasification. The regasification capacity is up to 6 million tons per year, with a total project cost estimated at 2 to 3 billion ringgit.

In Malaysia, natural gas demand is expected to continue growing, particularly in the industrial and power generation sectors. As a new LNG receiving point in northern Peninsular Malaysia, the Terminal will reduce dependence on existing receiving points, contribute to supply diversification, and improve gas supply stability.

The Tokyo Gas Group has set forth 'Transformation of the LNG Value Chain' in its management vision 'Compass2030'. By leveraging know-how accumulated through years of domestic and international business experience and expanding LNG infrastructure operations, the Group will continue to contribute to the development of Asian countries and the realization of a low-carbon society.

Comment from Azri Mohamad, President and Group CEO of Gas Malaysia Berhad:

'The signing of this joint development agreement marks a significant milestone for Gas Malaysia in expanding its role vertically along the LNG and gas value chain. By partnering with globally recognized companies such as Tokyo Gas and VTTI, we can utilize international best practices while firmly positioning this project within Malaysia's national energy policy.'

Comment from Tom Sminck, EVP Growth of VTTI B.V.:

'VTTI is pleased to partner with Gas Malaysia and Tokyo Gas in this strategic LNG infrastructure project. As the gas market liberalizes in Malaysia, this Terminal supports our strategy to build a global LNG terminal platform and strengthen supply stability. Malaysia is already an important country for VTTI, and together with our partners, we aim to support the country's long-term energy resilience and growth.'

Comment from Toshihide Kasuya, Representative Executive Vice President and Head of Overseas Business Company, Tokyo Gas:

'Since participating in the establishment of Gas Malaysia in 1992, Tokyo Gas has been committed to the development of the gas business in Malaysia through our cooperative relationship. In this project, we will contribute to the construction of the LNG value chain in Malaysia by leveraging our expertise in the development and operation of LNG receiving terminals in Japan and the know-how cultivated through participation in the FSRU project in the Philippines.'

Overview of Gas Malaysia Berhad:

Company Name: Gas Malaysia Berhad

Representative: President and Group CEO Azri Mohamad

Established: May 1992

Head Office: Shah Alam, Malaysia

Shareholders: MMC Corporation (30.9%), Tokyo Gas-Mitsui HD (18.5%), Petronas (14.8%)

Main Business: City gas business, etc.

Overview of VTTI B.V.:

Company Name: VTTI B.V.

Representative: CEO Guy Moens

Established: November 2006

Head Office: Rotterdam, Netherlands

Main Business: Development and operation of energy storage and terminal infrastructure

Location of the Terminal Development Site:

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