Economy Top Stories
Malaysian Gas Association_GBO_Image

Natural gas to lead Malaysia’s socio-economic growth: Govt

MGA says natural gas will contribute up to 12% of the country’s GDP

The Malaysian Gas Association (MGA) recently conducted a webinar and discussed the role of natural gas in enhancing the socio-economic growth of the country. The webinar titled ‘Collaborative Government-Association Synergy for a Sustainable and Vibrant Gas Industry’ was conducted by the Gas Exporting Countries Forum (GECF).

Hazli Sham Kassim, president of MGA discussed the role of the firm in shaping national policies and the natural gas roadmap that the county has been championing since 2018. It is to future proof the industry and also to focus on the future opportunities for gas in Malaysia.

He further noted that Malaysia’s New Energy Policy (NEP) might be launched in the second half of this year with a motive to ensure sub-sector energy development is aligned with the trend of the global energy transition. He further expressed the anticipation towards the Malaysian government that is currently undertaking the NEP will determine the long-term strategies surrounding the national energy sector.

It is said to address the clean energy alternatives in-depth including renewables and natural gas that would ensure all the aspects related to the energy sector along with environmental sustainability. The association estimates that the energy of natural gas contributes to 12 percent of the country’s GDP.

GECF officials noted that Malaysia, like other Forum’s member countries from Russia to Qatar, is displaying that only a holistic approach can address the concerns of energy security, affordability and sustainability, the three intertwined concerns. Natural gas is one of the environmentally friendly fuels and is set to play a frontline role in sustaining the expected economic growth and meeting the surging energy demand in this part of the world.

Related posts

Three African tech startups to participate in Catalyst Fund

GBO Correspondent

MTN Nigeria plans N600 bn investment to improve 4G coverage

GBO Correspondent

Egypt receives $7.3 bn development funds amid pandemic

GBO Correspondent