More gas imports if we don’t transition towards sustainable energy sources, says Rafizi

More gas imports if we don’t transition towards sustainable energy sources, says Rafizi

The economy minister warns that Malaysia could become entirely dependent on imported gas energy by 2050, leading to increased living costs.

Economy minister Rafizi Ramli says Malaysia has started importing gas with crude oil production down to about 400,000 barrels per day compared to 700,000 barrels previously.
KUALA LUMPUR:
Malaysia will face more gas energy imports for electricity use in the coming years unless it ramps up efforts to transition towards sustainable energy sources, says economy minister Rafizi Ramli.

Rafizi said the country imported about 25% of its gas requirements last year because of limited domestic production of natural resources like oil and gas, Bernama reported.

According to him, the current state of crude oil production is low, at about 400,000 barrels per day compared to 700,000 barrels per day over the past two years.

“I think not many people know that we have started importing gas. This year, it is expected that we will import about 30% of our gas, and this situation will continue.

“So, we have to tell the truth to the people, and the truth is painful,” he was quoted as saying at the National Institute of Public Administration (Intan) Minister’s Conversation 2024 programme here today.

He warned that if no action is taken by 2050, Malaysia could become entirely reliant on imported gas energy, resulting in an increased cost of living.

On a separate matter, Rafizi said restructuring the country’s economy requires more than just an economic framework. A shift in mindset and culture is also needed, he said.

“Any change from the status quo, from point A to point B, requires a shift in mindset and culture, which is not easy for a country entrenched in decades-old practices,” he said.

He also said designing effective policy programmes requires a comprehensive approach to address challenges, such as financial feasibility and scalability.

There must also be coordinated efforts to ensure consistency in the pace of change across all levels of execution and stakeholders.

“The important thing is civil servants are aware that we need to emphasise developing economic programmes which are acceptable and suitable for target groups,” he said.

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