Malaysian Gas Association lauds market-based pricing for natural gas

KUALA LUMPUR: Aligning the domestic gas price with the international market creates a competitive and dynamic environment, while promoting efficient resource allocation and utilisation, said the Malaysian Gas Association (MGA).

Supporting the just-announced revision to the natural gas tariff for the non-power sector in Peninsular Malaysia for July 1-Dec 31, 2018, MGA said the move would ensure the country’s energy security.

“The MGA applauds the government’s market liberalisation efforts, including deregulation of the gas price to achieve a marketbased pricing.

“As the lead advocate for the nation’s natural gas industry, the MGA is committed to facilitating the growth of the industry and views this announcement as a progressive step by the government to further develop a vibrant gas market,” secretary general, Rosman Hamzah, said in a statement yesterday.

He said the MGA was confident a level playing field would, in the long run, increase participation and pave the way for stronger socio- economic progress in the country. The revision, as approved by the Energy Commission, was announced by Gas Malaysia Bhd yesterday.

The MGA said it would continue to enhance awareness on the benefits of natural gas, increase acceptance on Malaysia’s gas market reforms and facilitate the growth of the natural gas industry. — Bernama