MGA Industry Talk - Global Gas Outlook and Impact to Malaysia

04 March 2022

MGA successfully organised its 1st edition of #MGAIndustryTalk on 4th March 2022.  Exclusively to MGA members, the Webinar titled “Global Gas Outlook and Impact to Malaysia” delved into an insightful discussions on the gas supply and consumption, as well as their future  prospects for this year and how it will be impacting the Malaysian gas industry.

Registered by 163 and attended by 139 participants, the first MGA Industry Talk was co-moderated by Rosman Hamzah, Secretary General of MGA and Afiq Zarim, Leader of MGA Advocacy Working Committee.

The webinar began with exclusive presentations by the professional Analysts from Wood Mackenzie, featuring first panelist, Valery Chow, Vice President and Head of APAC Gas & LNG kicked off the presentation particularly on the Global Gas Markets Outlook.  It was then followed by the second panelist, Asti Nuraini Asra, Principal Analyst, Gas & LNG presented on the Southeast Asia Gas Markets Outlook.

 

 

Key Takeaways:

  • China and South Korea increased their imports by +20 Mt, while the United States led the world in LNG supply growth (+21 Mt).
  • An increase in Southeast Asian demand slightly compensates for a slowdown in Chinese import growth.
  • Growing demand and falling indigenous production create the need for significant future LNG imports
  • As industrial gas demand levels off, the power sector’s share of gas consumption becomes increasingly dominating.
  • For non-US LNG, oil-indexed contracts remain the most common pricing mechanism, with medium-term contract slopes projected to rise as the global market tightens.
  • Malaysia is expected to see growth in gas and energy demand path due to domestic resources.