Malaysia Not to Become Net Importer of Gas So Early

Malaysia is not likely to turn into a net importer of natural gas so soon as domestic consumption is lower than country’s LNG exports, Business Times reported Gas Malaysia chairman Datuk Hamzah Bakar as saying. Last week, International Energy Agency said in a report that Malaysia will become a net importer of oil and natural gas by 2017. 

Furthermore, Petronas is aggressively giving out more exploration contracts including marginal fields to ensure more supply from local resources. He noted that Petronas is building LNG import terminals in Sungai Udang in Malacca, Pengerang in Johor and Lahad Datu in Sabah to cope with demand for gas to fire up the domestic economy.