Malaysia Energy

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Rising domestic demand for energy, fuelled by industrialisation and a growing population, has prompted Malaysia to take on a new role of major gas importer as it looks to augment its own extensive reserves.

Chapter | Energy from The Report: Malaysia 2012

Oil and gas represent an important but slowly declining source of Malaysia’s exports and government revenues. Projected to become a net importer of both fuels by 2017, Malaysia is seeking to boost both upstream and downstream capacity, develop expertise in oilfield services, and promote renewable energy. The government has offered tax incentives for projects that use enhanced oil recovery (EOR)...
As gas consumption levels reach record highs in Malaysia and across the continent, the country is positioning itself as a regional trade centre for liquefied natural gas (LNG). With a series of capital-intensive LNG investments, Malaysia will likely see a strong increase in LNG import-export volumes for some time to come. However, muted economic growth in China and India could limit the country’s ability to export its new LNG production.
Committed to reducing its carbon intensity by 40% by 2020, Malaysia is currently facing some tough decisions on whether natural gas or coal will be the best energy source to meet its rapidly growing consumption needs and looming environmental targets.
Change is in the air for Malaysia’s power sector, with recent developments including bids on new facilities and change of ownership for old ones. Government oversight has also been evolving, throwing up questions about what the sector’s make up will be in the near term.
As it negotiates a new phase in exploration and production, Malaysia’s hydrocarbons industry received heartening news recently. Indeed, a large discovery mid-February off the shores of eastern Sarawak should help to temporarily halt the nation’s slow declining oil and gas output, dovetailing nicely with moves to boost exploration and production from marginal and deep-water prospects.

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