Petronas proposes gas price mechanism


Dateline 2012-03-06:

Petroliam Nasional Bhd (Petronas) has proposed a pricing mechanism for natural gas once the regasification terminal in Melaka comes into operation in August.
“We have sat down with three [deputy ministers] a few weeks ago, and we proposed a review of the formula. It is now being brought to the Economic Council. So, we are waiting for that,” said president and CEO Datuk Shamsul Azhar Abbas at the national oil corporation’s financial results announcement yesterday.
The terminal will allow Petronas to import gas to make up for the current shortage. A pricing mechanism is necessary as currently Petronas’ supply of gas is heavily subsidised.
With the additional supply of imported gas, local prices will slowly rise to be on par with international market prices.

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This entry was posted on Friday, March 30th, 2012 at 6:00 am and is filed under Malaysia, Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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