Diversified Supply Sources Strengthen Malaysia’s Energy Security

PETALING JAYA (Selangor, Malaysia), June 6 (Bernama) -- Malaysia is using a sound risk management approach by diversifying energy supply sources to ensure the country's energy supply is sufficient, said Finance Minister II  Amir Hamzah Azizan.

He said the government, through Petroliam Nasional Bhd and oil companies, remains committed to seeking new supply sources, including from South Africa and the United States, to ensure the continuity of economic activities is not affected.

“This also means we have established new relationships. Some of the supply may come from further away and be slightly more expensive, but the important thing is that the domestic energy supply is sufficient.

“For coal, Malaysia continues to depend largely on Indonesia while expanding its supply sources to other countries, including the United States and Australia. This simultaneously reduces dependence on a single source and strengthens overall supply security," he told reporters after attending the ‘Program Mikro Kredit Turun Padang’ here Sunday. 

He explained that the step was a good risk management measure because if there was any disruption in a supplier country, Malaysia would still have the option to increase supply from other sources.

-- BERNAMA