Kuala Lumpur:Petronas Gas Bhd (PGB) has successfully completed the transfer of its gas processing and utilities businesses to two subsidiaries as part of a proposed internal reorganisation, effective November 1, 2026.

According to BERNAMA News Agency, the gas processing business has been transferred to PG Gas Processing Sdn Bhd, while the utilities business is now under PG Utilities East Sdn Bhd. This transfer followed the fulfilment of conditions precedent outlined in the respective business transfer agreements (BTAs).

PGB also noted in its filing to Bursa Malaysia that certain conditions precedent, specifically concerning approvals from relevant authorities and the issuance of new licences, were waived per the agreements. As of November 1, PG Gas Processing and PG Utilities East have commenced their operations.

Additionally, PGB stated that the transfer and/or vesting of the gas transportation business to PG TransCo Sdn Bhd will occur at a later date, contingent upon meeting the conditions precedent specified in the relevant BTA.