Rafizi warns of increased gas imports for electricity without switching to sustainable energy

KUALA LUMPUR (May 3): The country faces increased imports of gas energy for electricity in the coming years if it continues to rely on gas energy without efforts to accelerate the transition to more sustainable energy. become.

Economy Minister Rafizi Ramli said Malaysia imported about 25% of its gas last year to meet the country’s needs.

“I don’t think many people know that we (Malaysia) have started importing gas. We are expected to import about 30% of our gas this year, and this situation is expected to continue. It’s possible.

“So we have to tell the people the truth. The truth is painful,” Rafizi said at the National Institute of Public Administration (Intan) Ministerial Dialogue (IMC) 2024 program here on Friday. He said this while speaking as a panelist.

He explained that local oil production is low, at around 400,000 barrels per day, compared to 700,000 barrels per day in the past 20 years.

Rafizi said if no action is taken by 2050, Malaysia will become completely dependent on imports for gas energy, leading to an increase in the cost of living.

Rafizi explained that receiving the entire RM1 dividend from Petronas will also affect the company, reducing its financial ability to look abroad to develop new oil wells.

Meanwhile, he said the task of rebuilding the country’s economy cannot be achieved by just creating an economic framework.

“On the other hand, something has to give… There will be no business as usual. Decisions must be made so that the situation (such as inequality) does not get worse.

“Secondly, to change the status quo… moving from point A to point B requires a change in mindset and culture, which is not easy for a country that has defined its views and practices for decades. No. And I don’t think any economist can take this into account,” the minister said.

Thirdly, he said that “program design” in policy-making also needs to adopt a more comprehensive approach, as there are challenges such as issues of financial capacity and feasibility, especially in “scaling up”.

“And the fourth big challenge is aligning and ensuring that the pace of change is the same everywhere and at every level (of implementation) for each stakeholder.

“What is important is that civil servants recognize the need to focus on acceptance and the development of economic programs suitable for target groups.

“And the money that the government invests will not only have an impact, deliver results, provide the allocations that will be allocated, but will ultimately succeed as planned,” he added.

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