Dr M: ‘Buy in Singapore’ if you want cheaper gas

May 12, 2019

Dateline 2019-04-02, Malay Mail:

Malaysia will not follow Singapore in cutting liquefied natural gas (LNG) prices, Prime Minister Tun Dr Mahathir Mohamad said today.

When asked about the republic’s move to lower prices in line with the commodity’s global decline, Dr Mahathir said LNG price was already low in Malaysia due to price support from the government.

“Singapore has reduced its prices? Then please buy in Singapore.

“We are already selling it at a subsidised price and it is very low — lower (prices) than even in the big oil-producing countries — what more can you ask?” he said in jest.


Nation’s first Micro LNG facility

May 10, 2019

Darn it, I missed the boat. Who’s Kudos?

Dateline 2019-03-29, Daily Express:

Malaysia’s first Micro Liquefied Natural Gas facility at Kota Kinabalu Industrial Park that was officially launched, Thursday, will not only spur the economy but provide job opportunities for Sabahans, said Chief Minister Datuk Seri Mohd Shafie Apdal.Some 99 per cent of the workforce comprises Sabahans, mainly engineers and technicians. Although micro in size with capacity of producing 35 metric tonnes daily or equivalent to 1.8 million standard cubic feet a day, it can meet the energy requirements of small and medium industries across the State.  Consumers would benefit from cleaner and cheaper fuel at a competitive price, which in turn translates to cost savings and reduce the cost of doing business in Sabah.

Kudos goes to Sabah Energy Corporation Sdn Bhd (SEC), a wholly owned company of the State Government, which reached this significant milestone, in collaboration with Zhangjiagang Furui Special Equipment Company limited, a multinational company from China.


Local natural gas price cannot go in line with spot price: MGA

May 4, 2019

Dateline 2019-03-27, NST:

Malaysian Gas Association (MGA) says local natural gas price adjustments cannot go in line with fluctuating spot liquefied natural gas (LNG) prices.

This is because they are subject to long-term contracts with large industrial customers.

MGA said in Malaysia, the contracts offer them certainty in terms of managing their operations, with the natural gas price adjustments predicted beforehand.

It said the current global LNG prices are low as a result of a temporary imbalance in the supply-demand equilibrium.

“For now, Asian spot LNG prices have fallen because of oversupply given the new supply capacity in the United States and Australia, coupled by weakening demand owing to a milder-than-expected winter.

“Historically, such temporary imbalances are generally restored within a short time which will then increase the spot LNG prices,” it said in a statement.


Petronas Wants Malaysia to be Regional LNG Bunkering Hub

January 22, 2019

Dateline 2018-12-14, MarineLink:

Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019.

“As a major player in the LNG business, PETRONAS is well-positioned to support the strategic intent for Malaysia to become the regional LNG bunkering hub,” it said in the Petronas Activity Outlook 2019-2021 report.


Malaysia’s Petronas completes first commercial LNG cool-down service at Bintulu

December 21, 2018

So before this, what did they do at Bintulu Port?
Dateline 2018-11-05, S&P Global:

Malaysia’s state-owned Petronas has completed its first commercial gassing up and cooling down service at the Bintulu LNG export plant in northern Borneo, adding to the company’s portfolio of LNG-related services in Southeast Asia.

The operation, which consists of cooling down an LNG carrier’s tanks to cryogenic temperature after dry-docking and before loading its next cargo, was performed on the vessel Singapore Energy in approximately 11 hours, Petronas said in a statement on Monday


Malaysia’s Petronas completes first LNG bunkering operation at Pengerang

December 17, 2018

Dateline 2018-11-02, SPGlobal:

Malaysia’s state-owned Petronas has completed its first LNG bunkering operation at the Pengerang LNG terminal, an achievement that reaffirms the company’s efforts to compete in a key growing segment, where neighboring Singapore has invested heavily.


Petronas expects balance in oversupplied LNG market in 2023

September 17, 2017

Dateline 2017-08-15, Reuters:

Malaysian state energy company Petroliam Nasional Berhad [PETR.UL] expects the global liquefied natural gas (LNG) market to remain oversupplied until as late as 2023, its chief executive said on Tuesday.

Rising LNG production over the last two years, mainly from Australia and the United States, has exceeded demand and depressed prices. Asian spot LNG prices LNG-AS are now down by around 70 percent from early 2014.

Petronas, as the company is better known, only last month scrapped a proposed $29 billion LNG terminal project in western Canada, saying market conditions made the project “economically unviable”.