Petronas Chief Backs Malaysia as Asia's Energy Hub| MENAFN.COM

Friday, 01 July 2022 10:38 GMT

Petronas Chief Backs Malaysia as Asia's Energy Hub

(MENAFN- QNA) Malaysia would be ideal to establish an oil and gas hub in Asia, Petronas President and Chief Executive Officer Shamsul Azhar Abbas has said.

The CEO said there was no oil and gas hub in the likes of Houston, Aberdeen or Stavanger to cater for the intensified servicing activities required for oil and gas development.

"The overall growth is Asia is spawning voracious appetite for energy," he was quoted as saying in a report titled "Malaysia - Gateway to Asean" published by London-based PMC Ltd, a Bernama News Agency report said Wednesday.

Shamsul Azhar attributed population growth, urbanization and emergence of mega-cities to Gross Domestic Product growth and the need for energy and petroleum products for Asia.

"No other region has experienced more increase in energy demand than Asia," he said.

The report said the Asian region's demand for gas was forecast to climb, as its largest economies continue to expand at a rapid pace.

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