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KUALA LUMPUR, December 3 – Natural gas is expected to contribute nearly RM400 billion to public finances over the next decade and provide a significant economic contribution to gas-producing states, said the group’s chairman and chief executive officer. Petroliam Nasional Bhd (Petronas), Tengku Muhammad Taufik Tengku Aziz.
He said that the natural gas industry is a significant and direct contributor to Malaysia’s economic growth with widespread local economic impact.
“The industry has created about 15,000 jobs in Sarawak and Terengganu.
“In addition, research has highlighted that the industry creates more than 80,000 jobs in the overall economy, so for every 10 people employed in the natural gas industry, more than 25 jobs are created in the economy in general, “he said at the Seventh International Energy Forum (IEF) – Virtual round table of the Ministerial Gas Forum of the International Gas Union (IGU) today.
Tengku Muhammad Taufik said that by supporting the growth of the natural gas industry, Petronas had invested more than RM18 billion in developing the necessary gas infrastructure, which in turn had improved the country’s energy security.
As a long-term liquefied natural gas (LNG) player, Petronas is fully invested in unlocking its potential as its path to a low-carbon future for the next generation.
To date, more than 11,000 cargoes have been safely delivered to Petronas’ core markets from its global portfolio of facilities in Malaysia, Australia, Egypt and soon Canada, he said.
Tengku Muhammad Taufik said that the new global energy landscape had called for greater collaboration between producers, consumers and governments to ensure the creation of the ecosystem, in which gas is the fuel of choice that benefits all stakeholders.
“I believe that strong and forward-thinking energy policies, combined with government support and intervention, are the most important key influencers for an enabling ecosystem that promotes cleaner energy solutions.
“In Malaysia, government support policies to liberalize the gas market continue to bear fruit with the introduction of market-based pricing and third-party access to drive a more competitive gas market in the country,” he said.
As Malaysia’s national oil company, Petronas continued to work closely with legislators and authorities to shape the ongoing National Energy Policy and Natural Gas Roadmap that would ensure alignment of policy objectives to address the energy trilemma and increase the importance of the use of cleaner energy in the country. added. – Bernama
