Malaysian LNG exports slide in July
Liquefied natural gas exports from Malaysia have been reportedly hampered by a supply cut due to a gas leak in the Kimanis-Bintulu pipeline transporting natural gas to the Petronas’ LNG complex in Bintulu.
The issue occurred in January and has been fixed since, however, the Malaysian energy and LNG giant is still waiting for the authorities to permit the operation resumption, Reuters reports citing sources.
The company’s spokesperson told Reuters that despite the supply cut the LNG cargo deliveries from the 24-mtpa complex resumed on schedule.
However, the LNG export figures during the month of July showed a decline to 1.5 million tons, the lowest since July 2014, the report said. Petronas was pushed to purchase replacement cargoes in order to deliver the contracted volumes to its customers, it said.
While Malaysia’s exports declined, demand for liquefied natural gas in Japan bumped up on the back of rising heat.
LNG revenue accounted for 3.5 percent of Malaysia’s total exports in June coming in at 2.7 billion Malaysian ringgit ($663 million), some 31 percent below the figures in the corresponding month last year.
LNG World News Staff