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Gas Malaysia Berhad was established on 16 May 1992 to sell, market and distribute natural gas as well as to develop, operate and maintain the Natural Gas Distribution System (“NGDS”) network within Peninsular Malaysia. In December 2000, Gas Malaysia expanded its business to include the reticulated liquefied petroleum gas. [citation needed]
In October 2020, Sarawak government issued mining leases in Miri and Marudi to Petros for onshore oil and gas mining. [50] In year 2020, Petros started to distribute liquefied petroleum gas (LPG) to 1,500 business and 2,500 households in Miri and Bintulu. [51] In December 2020, Petros launched its own brand of LPG gas cylinder. [52]
Malaysia LNG is a subsidiary of the Malaysian national oil and gas company Petronas, which is a majority shareholder in all three LNG Ventures (MLNG Satu, MLNG Dua and MLNG Tiga). Besides Petronas, Royal Dutch Shell, Mitsubishi , JX Nippon Oil and the Sarawak Government hold a minority stake.
However, Malaysia only has 33 years of natural gas reserves, and 19 years of oil reserves, whilst the demand for energy is increasing. Due to this the Malaysian government is expanding into renewable energy sources. [11] Currently 16% of Malaysian electricity generation is hydroelectric, the remaining 84% being thermal. [12]
On 1 December 2014, the government of Malaysia officially ended the subsidy of all fuels, taking advantage of low oil prices at the time, potentially saving the government almost RM20 billion ringgit (US$5.97 billion) annually. A managed float mechanism has been put in place where prices would adjust according to the market rate. [4]
The Peninsular Gas Utilization (PGU) is the longest pipeline in Malaysia. The 2,623 km (1,630 mi) pipeline connects the Kerteh refinery in Terengganu to other areas of peninsula Malaysia. It is owned and operated by Petronas Gas Berhad on behalf of its holding company Petronas.
Prior to privatisation in 1990, the responsibility for planning and operation of the electricity supply industry in Peninsular Malaysia and Sabah vested in the National Electricity Board and the Sabah Electricity Board respectively while the Electrical Inspectorate Department, under the Ministry of Energy was responsible for licensing of private generation and the safety of electrical ...
On 16 July 2010 subsidies for petrol, diesel and LPG were cut as part of Malaysia's general programme of reducing and rationalising subsidies per the 10th Malaysia Plan and the New Economic Model. The government believes it will save RM750 million by the end of 2010 through these measures with little negative impact on most citizens.