Equal Attention Needed For Gas Industry Players In Budget 2025, Urges MGA

KUALA LUMPUR, Oct 11 (Bernama) -- The Malaysian Gas Association (MGA) calls for the Government to prioritise the gas industry in Budget 2025 to ensure Malaysia's sustainable transition to a low-carbon economy. MGA underscores the pivotal role of the gas industry as outlined in the National Energy Transition Roadmap (NETR). With the Responsible Transition Pathway 2050 (RT 2050) aiming to increase renewable energy (RE), phase out coal, pursue energy efficiency (EE) and expedite green mobility, the importance of natural gas as a crucial fuel becomes even more critical.

Prime Minister’s statement in the NETR 2023 Executive Summary highlights, “Gas is not only a transitional fuel but also the primary contributor of Total Primary Energy Supply (TPES).” Similarly, the Minister of Economy emphasised, “The reliance on Natural Gas is addressed under Energy Security. Proactive initiatives are being undertaken to secure natural gas, such as infrastructure and commercial arrangements for the importation, including long-term agreements to stabilise fuel imports. At the same time, it is crucial to ensure natural gas prices for domestic consumers reflect market parity. This will enhance the attractiveness of Malaysia as an investment destination for the upstream sector as well as incentivise third-party suppliers to enter the domestic gas supply market, spurring the operationalization of TPA for the gas market.”