SHAH ALAM, June 6 — Malaysia is strengthening its energy security by obtaining fuel and coal from diverse sources including West Africa, the United States and Australia, to ensure economic resilience amid uncertainties due to the West Asia conflict.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the strategy lowers the country’s dependence on a single supplier while boosting national risk management efforts to protect energy supplies.
“From the oil supply aspect, Petronas and other oil companies have already worked to obtain (supplies) from West Africa and the US.
“The same approach is also being implemented for coal supplies, where Malaysia no longer depends entirely on Indonesia, but is also obtaining supplies from the US and Australia.
“This is a good risk management measure. If there is any disruption in a supplier country, we still have the option to increase supplies from other sources,” Amir Hamzah told reporters after a Mikro Kredit Turun Padang event at the Kelana Jaya farmers’ market today.
He also assured that the country’s energy reserves are stable and sufficient to support household and business needs.
“Thank God, we have succeeded where we see there is no shortage of supply in the country, so when there is no shortage of supply, people do not worry about filling up fuel, there is no rationing.
“Besides that, because of the cooperation between Petronas and other companies that have successfully continued obtaining new supplies for the country… We guarantee sufficient supply and the economy can continue to grow,” Amir Hamzah said.
