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KUALA LUMPUR, May 4 -- A total of 17 liquefied natural gas (LNG) importers and 12 shippers have been granted licences by the Energy Commission to participate in the third-party access (TPA) market, said the Malaysian Gas Association (MGA).
In a statement today, MGA president Hazli Sham Kassim said the TPA is a fundamental building block of the gas market liberalisation.
“An attractive TPA will ensure the success of the gas market liberalisation, leading towards a vibrant and sustainable gas industry.
“The industry has been driving the nation’s economic growth and offering employment throughout its value chain,” he said.
MGA represents more than 130 corporate members that serve the entire gas value chain, from upstream to downstream.
The association said Malaysia’s gas market is expected to be fully liberalised by 2022 when the remaining regulated gas tariff ends on Dec 31, 2021.
“Full gas market liberalisation sets the path towards a vibrant and sustainable natural gas industry.
“The nation has benefited and will continue to benefit from natural gas as an important source of energy, enhancing our energy security and reliability,” it said.
It added that the gas industry had been playing a major role in Malaysia’s socio-economic growth, bringing over RM135 billion per annum of economic impact and created over 80,000 jobs in the wider economy.