Russia Guarantees Long-term Petroleum, Oil And Gas Supplies To Malaysia -- PM Anwar

From Nurul Hanis Izmir

KAZAN, June 18 (Bernama) -- Russia has agreed to guarantee long-term supplies of petrol, oil and gas to Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

He said the agreement would provide certainty to Malaysians about the country's energy supply without having to rely on agreements that are renewed every year or for a specific season.

 “Instead, preparations will be made to establish a long-term agreement,” he told the Malaysian media during a closing press conference following his two-day working visit to the ASEAN–Russia Commemorative Summit here.

Anwar said Russia had not only assured supplies of petrol, oil, and gas to Malaysia but also agreed to provide them over the long term.

On the implementation period for the cooperation, he said: “Approval has already been given. Company representatives have already come here. It is now a matter of signing and finalising the agreement.

“As soon as we return, we will ask them to expedite the process. The draft is already available, the principles have already been agreed upon, and we are simply waiting for the delegation to review the details and sign it,” he said.

Yesterday, Anwar expressed his appreciation to Russian President Vladimir Putin for Russia’s support in strengthening energy cooperation with Malaysia, particularly with Petronas.

Anwar said bilateral mechanisms between Malaysia and Russia had expanded to cover various sectors, including trade, investment, finance, and the halal economy.

On Malaysia’s oil supply, Anwar said the government was currently not facing supply problems, although prices might be affected to some extent.

“We were cautious previously if there were sharp price increases and supply restrictions. But over the past one or two months, we have already provided forecasts and statements indicating that, from a supply perspective, there is no issue.

“Previously, there were concerns about supply, especially diesel and sometimes gas. All three are now available. In fact, diesel, which we once considered very complicated from a supply standpoint, now appears to have a slight surplus.

 “We are also trying to sell some and assist countries that need it, including relatively poor countries such as Timor-Leste. That is the current situation. So there is no need to worry,” he said.

— BERNAMA