PUTRAJAYA, May 22 — Malaysia is working to ensure energy security until December amid the global supply crisis that has disrupted economic chains and increased energy costs, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
Fadillah, who is also energy transition and water transformation minister, said the country’s energy supply is currently sufficient until July, and efforts are being ramped up to extend this, including by sourcing additional supplies from abroad.
“At present, God willing, our energy supply security will last until July. PETRONAS is working tirelessly to secure available supplies, even having to go to Africa.
“If all the supplies can be secured, God willing, we will be able to ensure our energy supply security until December,” he said when speaking at the Energy Transition and Water Transformation Ministry’s monthly assembly here today.
He said the global energy crisis is affecting the entire economic chain, especially the logistics sector, which has seen rising costs that ultimately impact goods prices and stockpiles.
Fadillah said the impact of the crisis has also been felt in other sectors, including healthcare and manufacturing, due to shortages of certain raw materials such as plastic used in packaging.
“In Malaysia, we are actually still taking things lightly. We still feel as though Malaysia is not facing a crisis. That is the situation in Malaysia, but in reality, many parties are working to ensure we remain in this state of comfort,” he said.
Fadillah said all quarters must play their role by saving electricity and water to reduce energy consumption.
“By reducing energy use, we can extend the duration of our energy supply and ultimately ensure supply security and avoid being affected by the crisis,” he said.
He said the government, through weekly National Economic Action Council meetings, is engaging with various sectors to identify the impact of the crisis on the national economy and interventions.
He said efforts include ensuring the continuity of small and medium enterprises (SMEs), in addition to preventing job losses and reducing the impact on the people.
Fadillah added that the government will continue prioritising three main aspects of the energy sector — supply security, affordable pricing, and environmental sustainability.
