From the Borneo Star – Gas subsidy cuts to strengthen PTG by allowing Petronas to import more gas


Dateline 2011-05-21:

Petronas Gas Bhd (PTG) is expected to be the indirect beneficiary of gas subsidy cuts given that it would make it more palatable for Petronas to import liquefied natural gas (LNG) via PTG’s terminal for transmission around Peninsular Malaysia.

“While PTG does not directly benefit from lower gas subsidies or higher gas prices, the potential cut in gas subsidies next week does mean that the Government is resuming its subsidy review programme which should eventually see gas subsidies cut completely within some five to seven years,” said OSK Research Sdn Bhd (OSK Research) in a research note yesterday.

The research firm expected the increase in Petronas’s gas share price of 2.3 per cent over the last two days higher than average volume to be attributed by tPetronas Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johore and rumours of a cut in gas subsidies in June.

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