Press Statement on “MGA Commends Gas Price Revision”

25 Jun 2018

13 June, Kuala Lumpur – The Malaysian Gas Association (MGA) supports the recently announced revision to the natural gas tariff for the non-power sector in Peninsular Malaysia, for the period starting 1st July 2018 to 31st December 2018.
MGA applauds the government’s market liberalisation efforts including deregulation of gas price to achieve a market-based pricing.

MGA’s Secretary General, Rosman Hamzah said, “As the lead advocate for the nation’s natural gas industry, MGA is committed to facilitating the growth of the industry and views this announcement as a progressive step by the government to further develop a vibrant gas market.”

“Aligning the domestic gas price with the international market creates a competitive and dynamic environment, which promotes efficient resource allocation and utilisation, ensuring Malaysia’s energy security. We are confident that in the long run, a level playing field will increase participation and pave the way for stronger socio-economic progress in the country,” he concluded.

The revision, as approved by Energy Commission, was announced by Gas Malaysia Berhad today, with the average natural gas base tariff for the non-power sector in Peninsular Malaysia set at RM31.92/MMBtu for the period beginning 1st July 2018 to 31st December 2018, with a RM 0.77/MMBtu Gas Cost Pass Through (GCPT) surcharge resulting in an average effective tariff of RM 32.69/MMBtu.
In support of the government’s initiative to liberalise the Malaysian gas sector, MGA will continue to enhance awareness on the benefits of natural gas, increase acceptance on Malaysia’s gas market reforms and facilitate growth of the natural gas industry.

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