The International Gas Union’s latest annual LNG report indicates that Malaysia retained its position as the fifth largest exporter of liquefied natural gas (LNG) in 2023, following Russia, Qatar, Australia, and the US. Malaysia’s LNG exports reached 26.75 million tons, representing about 7% of the global LNG market.
Globally, Malaysia is recognized for its significant liquefaction capacity of 32 million tons per annum among 21 LNG-exporting nations. The Kasawari gas field, with its capacity of 3.7 million tons per annum for carbon dioxide, is highlighted as a key LNG-linked carbon capture and storage project. Additionally, Petronas LNG Complex in Bintulu, Sarawak state is one of the world’s largest LNG production facilities spanning 276 hectares. LNG is crucial to Malaysia’s energy transition, with gas demand projected to rise from 43% to 56% by 2050.
In the Asia-Pacific region, the top exporter with 134.80 million tons per annum and the largest importer with 155.32 million tons, inter-regional LNG trade totaled 95 million tons in 2023. Petronas exports spot LNG to China, Thailand, Japan, Taiwan, Bangladesh, Singapore, and Pakistan, and began operations in the Philippines in 2023, with Vietnam as a potential new market.
(Sources: Business Today; The Star)
