Malaysian LNG imports unlikely to falter

February 24, 2015

Delay in rise of industrial gas prices? Ah, shucks.

Dateline 2015-01-15, Interfaxenergy:

A decision by Malaysia’s government to postpone a plan to increase gas prices for the country’s industrial sector is unlikely to reduce LNG imports to the Malaysian peninsula. Instead, imports of the fuel could exceed expectations – as long as low prices and tepid demand for spot cargoes in Asia persist.

Malaysian Prime Minister Najib Razak outlined a revised national budget for 2015 on Tuesday that included delaying the price increases. The measure was introduced as part of an initiative to scale back subsidies for gas to encourage further investment in new supplies and promote greater efficiency.

Raising the gas prices for industrial buyers would also help pass through the higher price of LNG, which Malaysia started importing on a spot and short-term basis in 2013, when it received 1.5 mt at the Malacca terminal.

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UK’s Salamander Energy enters Malaysia with shallow-water PSC

February 2, 2014

Oil in the middle of the Straits of Malacca? There goes the Jembatan Selmel Bridge… and I can see a customs station on the CPP.

Dateline 2013-12-11, Platts:

UK-listed Salamander Energy has inked a production sharing contract for a block offshore Peninsular Malaysia, marking its debut in the country.

Salamander will operate the PSC for block PM322 in the Malacca Straits offshore west coast Peninsular Malaysia with 85% interest, the Southeast Asia-focused company said in a statement Wednesday.

The block is located in shallow water and spans about 20,000 sq km. It contains the Port Klang oil discovery made by Sun Oil in 1991, Salamander said.

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Posted by Wata