PETRONAS GAS EYES SUSTAINABLE GROWTH AMID ENERGY TRANSITION

KUALA LUMPUR, March 21 (Bernama) -- Petronas Gas Bhd (PGB) remains committed to achieving sustainable growth while navigating the evolving energy landscape in the future, said chairman Datuk Adif Zulkifli.

Guided by PGB’s strategic agenda, the company will continue to prioritise maintaining excellence in core operations, expanding along the natural gas value chain and capitalising on opportunities presented by the energy transition, he said in the company’s Annual Report 2024.

“The anticipation of rising demand for natural gas energy across Malaysia offers significant growth potential.

“With the expansion of our liquefied natural gas storage and transmission infrastructure nearing completion, the PGB board has approved the final investment decision for an additional 100-megawatt gas power plant in Kimanis last year, while feasibility studies for several growth projects, including gas infrastructure expansion, are also underway,” he said.

Adif noted that these initiatives ensure PGB’s gas transportation and regasification segments will fulfil national gas needs as coal plants are gradually phased out while fuelling revenue growth.

He added that as the ASEAN region continues to further its regional energy trade ambitions, Malaysia’s strategic location and robust natural gas infrastructure make it a prime candidate as a regional gas hub.

“Leveraging our proven capability, expertise and reputation, we are strategically positioning PGB as a key enabler for the Trans-ASEAN Gas Pipeline,” he said.

He added that the company will advance carbon abatement strategies, including carbon capture and carbon dioxide utilisation as an alternative fuel while expanding its focus on step-out projects such as cold energy harnessing and energy storage systems to support a lower-carbon future.

These efforts will be brought into sharper focus as Malaysia progressively expands its environmental regulations, including the recently announced carbon tax for the iron, steel, and energy industries, he said.

“To this end, we remain actively engaged in dialogues with government bodies and global policymakers, ensuring that we contribute to shaping policies and regulations impacting the gas sector,” said Adif.

He noted that these and many other strategic strides undertaken over the past few years have laid a robust foundation for PGB’s transformation, from a traditional energy company to a frontrunner in catalysing Malaysia’s energy transition.

Adif added that the company remains committed to upholding responsible practices and advancing sustainable growth as it shapes the future of the national energy sector.

-- BERNAMA