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Mustapa: Malaysia's LNG exports for nine months at RM23 bln

Datuk Seri Mustapa Mohamed

KUALA LUMPUR, Dec 3 -- Malaysia’s liquefied natural gas (LNG) exports for 2020 are set to drop, with LNG exports in the first nine months of the year valued at about RM23 billion.

Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said Malaysia's LNG exports for 2018 stood at RM42 billion, while 2019's exports were at RM43.5 billion.

"As you can see, there is a big drop in terms of value," he said in a virtual press conference in conjunction with the 7th International Energy Forum (IEF)-International Gas Union (IGU) Ministerial Gas Forum today.

In regard to the National Energy Policy, Mustapa said the road map is in progress and will be done by early next year.

"Gas is an important component of the policy and it will enhance efficiency and encourage competition.

“Like many other countries in the world, we are looking at reducing coal in our energy mix, and gas will play an important role in the mix," he said.

Malaysia is the fifth largest exporter of LNG in the world and in terms of reserves, is positioned at number 20. 

"In Malaysia, 30 per cent of gas production is for domestic consumption and 70 per cent is for export. So we are a major player and for that reason, we are happy to be able to host this forum this year," Mustapa added.

-- BERNAMA

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