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Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market

Malaysia's gas industry has been undergoing a profound transformation that is imperative in ensuring energy security. The rising demand especially in Peninsular Malaysia and regulating prices of natural gas saw PETRONAS selling natural gas at a relatively low price that affects the Government&#...

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Main Authors: Lim, Zhen Wen, Goh, Kim Leng
Format: Article
Published: Elsevier 2019
Subjects:
HF Commerce
Online Access:http://eprints.um.edu.my/20037/
https://doi.org/10.1016/j.enpol.2018.12.049
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spelling my.um.eprints.200372019-01-17T03:26:26Z http://eprints.um.edu.my/20037/ Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market Lim, Zhen Wen Goh, Kim Leng HF Commerce Malaysia's gas industry has been undergoing a profound transformation that is imperative in ensuring energy security. The rising demand especially in Peninsular Malaysia and regulating prices of natural gas saw PETRONAS selling natural gas at a relatively low price that affects the Government's revenue collection negatively. This article contextualised the changes in the law and policy that concerns the management of gas resources in Malaysia. The journey from a price regulated gas market towards a liberalised market is explained. This energy transition process requires more than changes in the law. It involves the synergy of dynamics from various aspects to ensure that the ecosystem is conducive for the development of a healthy natural gas sector to ensure secured energy supply, while catalysing the growth of new industries and generating new revenues for the nation. The challenges and pushbacks throughout this journey are highlighted. Discussions show how the problems were tackled strategically within the political, social and economic domains, as well as the interaction between them. These interactions demonstrate the importance of energy justice in policy making. Policy decisions are made to balance the competing goals of various key stakeholders. Elsevier 2019 Article PeerReviewed Lim, Zhen Wen and Goh, Kim Leng (2019) Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market. Energy Policy, 128. pp. 197-211. ISSN 0301-4215 https://doi.org/10.1016/j.enpol.2018.12.049 doi:10.1016/j.enpol.2018.12.049
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
topic HF Commerce
spellingShingle HF Commerce
Lim, Zhen Wen
Goh, Kim Leng
Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market
description Malaysia's gas industry has been undergoing a profound transformation that is imperative in ensuring energy security. The rising demand especially in Peninsular Malaysia and regulating prices of natural gas saw PETRONAS selling natural gas at a relatively low price that affects the Government's revenue collection negatively. This article contextualised the changes in the law and policy that concerns the management of gas resources in Malaysia. The journey from a price regulated gas market towards a liberalised market is explained. This energy transition process requires more than changes in the law. It involves the synergy of dynamics from various aspects to ensure that the ecosystem is conducive for the development of a healthy natural gas sector to ensure secured energy supply, while catalysing the growth of new industries and generating new revenues for the nation. The challenges and pushbacks throughout this journey are highlighted. Discussions show how the problems were tackled strategically within the political, social and economic domains, as well as the interaction between them. These interactions demonstrate the importance of energy justice in policy making. Policy decisions are made to balance the competing goals of various key stakeholders.
format Article
author Lim, Zhen Wen
Goh, Kim Leng
author_facet Lim, Zhen Wen
Goh, Kim Leng
author_sort Lim, Zhen Wen
title Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market
title_short Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market
title_full Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market
title_fullStr Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market
title_full_unstemmed Natural gas industry transformation in Peninsular Malaysia: The journey towards a liberalised market
title_sort natural gas industry transformation in peninsular malaysia: the journey towards a liberalised market
publisher Elsevier
publishDate 2019
url http://eprints.um.edu.my/20037/
https://doi.org/10.1016/j.enpol.2018.12.049
_version_ 1643691160446697472
score 13.211869

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