Petronas: Need for collective action
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has urged all stakeholders in the liquefied natural gas (LNG) industry to take concrete actions to advocate natural gas and its role in the global energy mix as a collective effort towards a sustainable market ecosystem.
President and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said gas would play a significant role in the energy mix and will be necessary to fulfil future demands.
“Gas is the solution that is here to stay, and making gas available to the various geographies not only makes good business sense, but is also our moral duty in ensuring a cleaner environment for future generations,” he said.
Wan Zulkiflee said for LNG adoption to take hold, gas advocacy should be the focus of all the industry’s collaborative efforts.
“Producers and buyers must engage in honest discussions on their immediate and longer-term supply and demand to ensure market stability and security, besides spurring investments.”
Investors, policymakers, regulators, financiers and other industry enablers should cultivate a thorough understanding of the industry to develop and implement the right frameworks that facilitate the acceleration of LNG adoption, he said.
Petronas, one of the largest global LNG players and the world’s third largest LNG supplier, is well positioned to provide distinctive and innovative solutions through its growing portfolio of LNG supply sources and trading capabilities.
“Petronas is poised to deliver long-term value via LNG, in line with our commitment to sustainable and responsible development of resources in global energy needs,” said Wan Zulkiflee.