KUALA LUMPUR: The National Gas Roadmap is currently being finalised and is scheduled to be launched this year, said Economy Minister Datuk Seri Rafizi Ramli.
He explained that the plan is aimed at boosting the domestic gas value chain as Malaysia needs to import more liquefied natural gas (LNG) due to declining gas production for the peninsula market.
"When more companies venture into gas trading and import LNG for supply, Petroliam Nasional Bhd (Petronas) and the country are better off in several ways,” he said in a post on his official X page today.
Elaborating further, Rafizi said Petronas has the potential to earn additional income as importing companies have to pay access fees to use Petronas' gas infrastructure.
In addition, the risk of loss borne by Petronas as the sole importer of LNG has also been reduced, while the security of gas supply has increased due to the presence of more players in the industry.
"Finally, this move also opens up opportunities to attract new investments into the downstream gas industry," he said, adding that any company can now import LNG for marketing, which uses Petronas' regasification infrastructure and gas pipeline network. - Bernama
