Recently, the International Gas Union released its annual World Liquefied Natural Gas Report, which shows that Malaysia will continue to maintain its position as the world's fifth largest exporter of liquefied natural gas in 2023, with a total export volume of 26.75 million tons, accounting for 7% of the global liquefied natural gas trading volume.

This achievement not only demonstrates Malaysia's profound foundation in the liquefied natural gas field, but also further consolidates its important position in the global energy market. Malaysia's liquefied natural gas exports are second only to Russia, Qatar, Australia, and the United States, and this ranking is the best affirmation of its unremitting efforts in the energy sector over the years.

According to the report, Malaysia ranks among the top in liquefaction capacity among 21 markets operating liquefied natural gas export facilities worldwide, with an annual liquefaction capacity of up to 32 million tons. This strong liquefaction capability provides strong guarantees for Malaysia to occupy a favorable position in the global liquefied natural gas market.

It is worth noting that the Asia Pacific region, as the world's largest exporter of liquefied natural gas, has an annual total export volume of 134.8 million tons, and is also the largest importer with an import volume of 155.32 million tons. As a major exporter of liquefied natural gas in the Asia Pacific region, Malaysia's export volume is of great significance in maintaining regional energy balance and promoting regional economic development.

In addition, Malaysia's Kasawari gas field has an annual carbon dioxide production capacity of 3.7 million tons and is listed as one of the carbon capture and storage projects related to liquefied natural gas. The implementation of this project not only helps to reduce greenhouse gas emissions and promote positive progress in Malaysia's response to climate change, but also demonstrates Malaysia's innovative capabilities and technological strength in the energy sector.

Li Yalan, President of the International Gas Union, stated that liquefied natural gas, as an important component of the rapidly changing global energy system, is self-evident in its importance. Liquefied natural gas has the advantages of convenient storage and flexible transportation, which can provide greater flexibility for the global energy system and reduce inherent uncertainty risks.

The Chairman of the Malaysian Natural Gas Association, Abdul Aziz, also emphasized that liquefied natural gas plays an important role in Malaysia's energy transition roadmap. He predicts that by 2050, natural gas demand will increase from the current 43% to 56%. This prediction indicates that Malaysia will continue to increase its investment in the liquefied natural gas sector and promote the optimization and upgrading of its energy structure.