By Nancy Nais
KUCHING, Feb 7: Sarawak produces 70 per cent of liquefied natural gas (LNG) in Malaysia but the State consumes less than five per cent of the country’s total production.
As such, Chief Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg said Sarawak must intensify utilisation of its gas assets in the next five to 10 years in order for the State to increase high value downstream economic activities.
“The Sarawak government has established the Sarawak Gas Roadmap (SGR) 2030 with the aim to localise 1,200 million standard cubic feet per day by 2030 and there are USD25 billion in investment opportunities for the private sector to capitalise on our economy through various petrochemical downstream industries.
“We are also exploring new oil and gas blocks onshore and offshore to ensure volume is available for Sarawak’s journey towards industrialisation,” Abang Johari said at the launch of the action and implementation plan for Post-Covid-19 Development Strategy 2030 (PCDS 2030) here today.
He also explained that midstream petrochemical industries including methanol, ammonia, hydrogen and polyethylene sectors will further enhance the existing downstream manufacturing ecosystem, create more business opportunities and strengthen Sarawak’s position in the global manufacturing supply chain ecosystem.
On Dec 7, 2020, the Sarawak government signed a Commercial Settlement Agreement (CSA) with Petroliam Nasional Berhad (Petroas) which, among others, provides Sarawak with a greater share of revenue from oil and gas found in Sarawak.
Abang Johari added that it also provides for more active involvement by Sarawak in the oil and gas industry by creating and maintaining a stable, conducive business and investment environment for the sustainable growth of the oil and gas industry, both upstream and downstream, in the State. — DayakDaily
