Malaysia cuts average natural gas price for non-power sector users

Dateline 2016-12-29, Nikkei Asian Review:

Malaysia has decided to cut the average natural gas price by 2.74% for users in the non-power sector for the first six months of next year, a move that analysts said will help lower costs for export-reliant manufacturers such as glove-makers.

The average base tariff of 26.31 ringgit ($5.9) for every million British Thermal Unit will be effective January 1, the Energy Commission said in a statement, compared to the current rate of 27.05 ringgit for each unit. Natural gas prices in Malaysia are controlled by the government and reviewed every six months.

“The base tariffs for this regulatory period are expected to contribute positively towards the financial position of the company for the next three financial years,” Gas Malaysia, the sole supplier of reticulated natural gas in Malaysia, said in a separate statement to the stock exchange.

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