Flames come out of a domestic gas ring of an oven in Durham September 23, 2021. — Reuters pic
Tuesday, 20 Sep 2022 8:54 PM MYT
KUALA LUMPUR, Sept 20 — At least half of the initiatives outlined in the National Energy Policy (2022-2040) (NEP) will have a significant impact on the demand for natural gas, said Malaysian Gas Association (MGA) president, Abdul Aziz Othman.
He said the MGA lauds the launch of the new NEP, which has come at the right time, given the ongoing global energy crisis.
“A comprehensive NEP is important for our country as we address the energy trilemma and embark on a pragmatic and orderly energy transition towards achieving sustainability and net zero carbon emission,” he said in a statement today.
He said MGA is delighted to note that the role of natural gas was highlighted as a key component in the NEP to continue driving Malaysia’s sustainable socio-economic growth.
“We are proud to be part of the technical committee that developed the NEP and eagerly look forward to the upcoming launch of the Natural Gas Roadmap (NGR) to complement the NEP,” he added.
Abdul Aziz said the NGR is expected to chart the direction and future-proof the gas industry by ensuring supply security and optimisation of supply, as well as increasing demand in pursuit of a vibrant and sustainable Malaysian gas industry.
MGA said since the formulation of the first National Energy Policy in 1979, which was followed by the Four Fuel Diversification Policy in 1981, the supply and consumption of natural gas have grown rapidly and become the single largest source of energy in 1998, overtaking oil.
“For decades, natural gas has played a key role in driving the nation’s socio-economic development, where the rapid rise in the gross domestic product was in tandem with the growth of natural gas consumption.
“Today, natural gas remains the single largest energy source in Malaysia, accounting for around 42 per cent of its total primary energy supply in 2019,” it said, adding that the Malaysian gas industry has also created over 80,000 jobs for the wider economy. — Bernama