Malaysia aims to extend energy supply security until December amid global crisis, with Petronas securing additional supplies from abroad.
PUTRAJAYA: The government is working to ensure the country’s energy supply security can be extended until December amid the global supply crisis that has disrupted economic chains and increased energy costs, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
Fadillah, who is also Minister of Energy Transition and Water Transformation, said the country’s energy supply is currently expected to be sufficient until July, and efforts are being intensified to extend this, including sourcing additional supplies from abroad.
“At present, insya-Allah, our energy supply security will last until July. Petronas is working tirelessly to secure available supplies, even having to go to Africa.
“If all the supplies can be secured, insya-Allah, we will be able to ensure our energy supply security until December,” he said when speaking at the Ministry of Energy Transition and Water Transformation’s monthly assembly here today.
He said the current global energy crisis is affecting the entire economic chain, particularly the logistics sector, which has seen rising costs that ultimately impact the prices of goods and supply security.
Fadillah said the impact of the crisis has also been felt in other sectors, including healthcare and manufacturing, due to shortages of certain raw materials such as plastic used in packaging and various industrial needs.
“In Malaysia, we are actually still taking things lightly. We still feel as though Malaysia is not facing a crisis. That is the situation in Malaysia. But in reality, many parties are working to ensure we remain in this state of comfort,” he said.
As such, Fadillah said all parties must play their role by ensuring electricity and water savings to reduce energy consumption.
“By reducing energy use, we can extend the duration of our energy supply and ultimately ensure supply security and avoid being affected by the crisis,” he said.
He said the government, through the National Economic Action Council meetings held weekly, is also engaging with various sectors to identify the impact of the crisis on the national economy as well as intervention measures that can be implemented.
He said the efforts include ensuring the continuity of small and medium enterprises, in addition to preventing job losses and reducing the impact on the people.
At the same time, he said the government will continue prioritising three main aspects of the energy sector, namely supply security, affordable pricing for the people and environmental sustainability.
