Petronas said it believes that industry players need to come together and tackle any potential disruptions to the growth of the liquefied natural gas market.
The Malaysian company's chief executive Wan Zulkiflee wants there to be concerted partnerships to advocate LNG as the preferred clean source of energy in the long-term.
He said this is critically important so as to manage the challenges posed by changing market dynamics, customer behaviours, increasing regulatory and policy commitments, as well as technology and innovation that could disrupt the growth of the LNG market.
“As an abundant and environment-friendly fuel, LNG is well-positioned to play an important role to meet the global aspiration for secure, affordable and sustainable energy. While the growth story for LNG has a tremendous upside, the industry must be cautious. The success of our industry depends on the concerted and concrete actions by all the stakeholders,” he said.
He emphasised the importance of advocating LNG and creating new demand.
“As each demand centre, particularly emerging markets, has its own unique criteria, industry players should collaborate with all stakeholders in developing fit-for-purpose solutions, reflecting shared responsibility in making LNG more available and accessible,” he added.
As a long-term LNG player, Petronas is fully invested in unlocking the potential of LNG, he added.
