Thursday June 22, 2006

Malaysia may raise natural gas prices

channelnewsasia.com :

Malaysia will consider raising the price of subsidised natural gas to relieve some of the pressure on state-owned firm Petronas. Energy Minister Lim Keng Yaik said that Petronas, which has asked for a hike, is under "tremendous stress" to meet domestic demand for gas at the subsidised rate. Petronas is currently supplying gas at 6.40 ringgit (US$1.76) per million British thermal units (mbtu), well below the market price of 14 to 18 ringgit per mbtu.

Petronas has supplied processed gas to Malaysia's debt-ridden utility giant Tenaga Nasional and independent power producers at the subsidised rate since 1997. Last month, the government increased electricity rates for the first time in nearly a decade because of rising fuel costs.

See also :

1. Malaysians urged to change energy use patterns

(2006-06-22 13:09:21 SGT) [Energy] Permalink

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