LNG Imports From US Will Not Exceed Nation's Needs - PM Anwar
KUALA LUMPUR, Aug 14 (Bernama) -- Petronas’ decision to import additional liquefied natural gas (LNG) from the United States (US) is subject to its capabilities and the country's needs, said Prime Minister Datuk Seri Anwar Ibrahim today.
“I don’t think that this is a problem because we only import what we need and it is based on commercial terms which will not be a burden on Petronas and the nation,” he said.
He said this in response to a supplementary question from Syed Saddiq Syed Abdul Rahman (MUDA–Muar) on the impact of a precondition set by the US, which requires Malaysia to import additional LNG worth US$3.4 billion annually — equivalent to 4.0 million metric tonnes per year.
The Prime Minister emphasised that Malaysia will not import more than what is required.
“But we must also remember that we are an exporter. If the price is competitive and the project is conventionally viable, it makes sense for us to import more, including from the US, if it is profitable.
“This is because we have our needs and our products are still in demand in Japan, Korea, and China, and China’s demand is particularly high,” he said.
-- BERNAMA