KUALA LUMPUR: Malaysia’s gas industry has remained robust and resilient and is not adversely impacted by the global energy crisis, as the industry is steered by the right policies, business-friendly incentives and infrastructure readiness, said the Ministry of Economy deputy secretary-general Datuk Yatimah Sarjiman.
Yatimah said the government, along with other key stakeholders, such as Petroliam Nasional Bhd (Petronas) and Tenaga Nasional Bhd (TNB), is constantly taking appropriate measures to ensure continuous energy security for the country.
“With multiple sources and an extensive network of gas delivery infrastructures with reliability exceeding 99%, natural gas plays a significant role in fueling the economy, especially the power generation sector, thus ensuring energy security and accessibility for the country.
“The Malaysian gas industry has been contributing to the country’s overall socio-economic well-being via the creation of quality job opportunities, supporting economic output, boosting our external trade and nurturing local industries and companies into becoming global players.
“The petroleum and gas industry contributed more than RM144 billion in gross output in 2021,” she said in her keynote address at the Malaysian Gas Symposium organised by the Malaysian Gas Association (MGA) today.
Yatimah noted that in the National Energy Transition Roadmap, natural gas is set to be the transitional fuel, constituting 56% of the total primary energy supply (TPES) mix in 2050.
This is followed by renewables which include solar, hydro and bioenergy contributing 23% of the TPES in 2050 from a mere 4% in 2023.
By comparison, natural gas is currently the single largest fuel in the total primary energy mix, comprising 43%.
She said that based on the outlook, natural gas would continue to play a pivotal role in Malaysia’s energy transition pathway as the nation moves towards a low-carbon economy.
Meanwhile, MGA president Abdul Aziz Othman said while the country aims for ambitious goals, it is crucial to approach the transition with a realistic mindset.
He said the industry and the ecosystem as a whole must be equipped and geared up to move towards the right pathways.
“As the nation’s lead advocate for the gas industry, MGA is committed to playing its role as the bridge between policymakers and industry players as effectively as possible,” he said.
On ongoing decarbonisation efforts, Abdul Aziz said the industry has embarked on many collaborations to manage carbon emissions through carbon capture and storage technology throughout the whole gas value chain.
“Attracting financial investment is crucial as the carbon capture utilisation and storage technology currently has the potential to remove about 90% of carbon dioxide from gas combustion in power plants,” he said in a statement in conjunction with the event.
He said the move towards full liberalisation of the energy market, including gas and electricity, is required for a vibrant and sustainable gas industry, attracting investors and third-party players that ensure the nation’s long-term energy security and reliability.
Abdul Aziz opined that the natural gas roadmap, which is expected to be released by the government next year, must be realistic and pragmatic.
He said the gas industry expects the roadmap to outline a clear path for the industry, promoting sustainable growth and ensuring a reliable supply of gas to meet the increasing energy demand. – Bernama
