In a post on X today, he denied claims by critics that he is “planning a new formula to eliminate Petronas’ monopoly in the gas industry”, saying the truth is far more “boring and without drama”.

“The truth is that any company can import liquefied natural gas (LNG) for the local market.

“The regasification infrastructure (for conversion of LNG into natural gas) and gas pipes are owned by Petronas. However, since we have the structure for industry players through third-party access, any company can import LNG.

“The problem is that other companies are not interested. Almost all imports of LNG into the domestic market are handled by Petronas,” he said.

Rafizi said the nation’s dependence on Petronas has become a burden, since it will bear the losses from increased LNG import prices.

“The roadmap aims to stimulate the domestic gas value chain, since we are being forced to import more LNG as the production of gas for the peninsula market has been decreasing,” he said.

Rafizi said both Petronas and Malaysia would benefit if more companies enter the gas trade and start importing LNG for local supply.

“Petronas will generate extra income because these companies need to pay access fees to use Petronas’ gas infrastructure.

“The risk of Petronas facing losses due to the burden of being the only LNG importer will also be reduced.

“The (nation’s) gas supply will be more secure as the gas industry will have more players, and we can also draw new investments into the downstream gas industry,” he said.

Rafizi added that it makes no sense for him to set out to make Petronas a victim, given that he joined the company when he was 18, as a Petronas scholarship recipient, and worked with them until he was 32.