MALAYSIA, 01/07/2024 (Asia News Channels) - Malaysia has upheld its position as the fifth largest liquefied natural gas (LNG) exporter in 2023, following Russia, Qatar, Australia, and the United States. According to the International Gas Union's annual world LNG report released today, Malaysia's total LNG export for the year was 26.75 million tonnes, making up approximately 7% of the global LNG trade.
“Globally, Malaysia is highlighted as having one of the largest operational liquefaction capacities at 32 million tonnes per annum among 21 markets operating LNG export facilities,” the report stated.
The Asia-Pacific region emerged as the highest exporting region, with a total of 134.80 million tonnes per annum, and also led as the largest importing region with 155.32 million tonnes of LNG. Inter-regional trade stood at 95 million tonnes in 2023.
Additionally, Malaysia's Kasawari gas field, with a carbon dioxide capacity of 3.7 million tonnes per annum, was listed among the LNG-linked carbon capture and storage projects.
International Gas Union president Li Yalan emphasized the critical role of LNG in enhancing the resiliency of rapidly evolving energy systems worldwide, stating it will be essential in mitigating the risks of uncertainty.
Malaysian Gas Association president Abdul Aziz Othman remarked that LNG is pivotal in Malaysia’s energy transition roadmap, which projects an increase in gas demand from 43% to 56% by 2050.
-- ASIA NEWS CHANNELS