MyGAS 2025 To Focus On Tackling Financing Challenges In Gas Industry

KUALA LUMPUR, Feb 7 (Bernama) -- The Malaysian Gas Symposium (MyGAS 2025) will focus on a critical challenge facing the gas industry - securing financing for gas-related projects “in the everchanging energy landscape to ensure energy security, affordability and sustainability.”

The Malaysian Gas Association (MGA) said the 4th edition of a symposium on Feb 13 will address the most pressing challenges impacting the industry, particularly the financing gap, investment needs and long-term industry resilience.

MGA president Abdul Aziz Othman said natural gas remains a vital component of Malaysia’s energy mix, supporting economic growth and industrial development.

“The critical role of natural gas in Malaysia’s energy transition is well established in the National Energy Transition Roadmap (NETR).  But the key question remains on how will the industry secure the financing needed to meet growing demand while navigating the energy transition, depleting indigenous resources and increasing reliance on imports,” he said in a statement today.

Besides, MGA said MyGAS 2025 “will delve into the multifaceted challenges of financing the energy transition, particularly in light of shifting global financing policies and insights from the 29th Conference of the Parties (COP29). With financial institutions increasingly reluctant to fund fossil fuel projects, the symposium will explore innovative financing mechanisms that balance sustainability goals with the realities of emerging economies,” it said.

It noted that Malaysia’s NETR has estimated an investment requirement of RM1.2 to RM1.3 trillion by 2050 to fund energy transition projects, including natural gas facilities/infrastructure, hydrogen, carbon capture, utilisation and storage (CCUS) and renewables. “These investments are critical to maintaining and expanding infrastructure while ensuring the affordability and accessibility of energy resources,” it said.

Whilst acknowledging the global push for renewable energy, MyGAS 2025 will emphasise the continued role of natural gas in meeting energy demand and supporting economic development, particularly in emerging economies like Malaysia and the ASEAN region.

The symposium will provide a platform to discuss how the gas industry can adapt and innovate to remain competitive and sustainable in a changing world.

Meanwhile, with Malaysia assuming the ASEAN chairmanship in 2025, the symposium this year is poised to contribute to a series of industry dialogues on energy financing and sustainable development. 

“The symposium will foster collaboration between policymakers, industry leaders and financial institutions to ensure the gas industry can secure the necessary funding to support its operations and contribute to energy security. This will (lead) to fostering enhanced collaboration between policymakers, industry leaders and financial institutions in ensuring sufficient funding for the gas industry to support the country’s energy security,” it said.

Themed “Fuelling a Sustainable Gas Industry's Transition”, MyGAS 2025, which is expected to draw about 250 participants, will feature insights from policymakers, industry experts and relevant stakeholders with Economy Minister Datuk Seri Rafizi Ramli delivering the opening remarks.

-- BERNAMA