Malaysia remains the fifth largest LNG exporter in 2022
Bernama
Julai 14, 2023 00:23 MYT
Malaysia remains the fifth largest LNG exporter in 2022
Li Yalan said the world sees the high value of LNG as an optimal source of flexible, reliable and efficient energy. - File photo/AFP/ Mohd Rasfan
KUALA LUMPUR: Malaysia maintains its position as the fifth largest exporter of liquefied natural gas (LNG) in 2022 after Australia, the United States, Qatar and Russia.
According to the 14th annual World LNG Report 2023 released by the International Gas Union (IGU) on July 12, LNG exports from Malaysia in 2022 totaled 27.3 million tonnes (MT), up from 24.9 MT in 2021, which is about seven percent of total LNG traded globally.
The report said Asia Pacific remains the largest market for LNG, exporting a total of 136.6 MT in 2022 and importing 160.9 MT, with most LNG traded in the same region at 97.9 MT.
IGU President Li Yalan said the world sees the high value of LNG as an optimal source of flexible, reliable and efficient energy.
"Flexible energy is needed for the world to continue its journey in the energy transition safely," he said in the report.
Meanwhile, Malaysian Gas Association (MGA) President Abdul Aziz Othman said in a statement that LNG is a type of liquefied natural gas that allows the fuel to be delivered in bulk over long distances.
In order to ensure sufficient and uninterrupted supply to consumers in Peninsular Malaysia, he said LNG was brought in to supplement the supply from offshore natural gas.
"In the past, natural gas has ensured energy security and driven economic development and we expect natural gas to remain the core fuel in the coming decades.
"As the prime minister mentioned during the opening of Energy Asia in early June, Malaysia will continue to see natural gas play an important role in the energy mix to move towards a lower carbon economy," said Abdul Aziz.
