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Gas Malaysia Bhd has obtained the government's approval to set the natural gas selling price at RM33.65 per million British thermal units (MMBtu) for next year. Pix courtesy by Gas Malaysia Bhd.

KUALA LUMPUR: Gas Malaysia Bhd has obtained the government's approval to set the natural gas selling price at RM33.65 per million British thermal units (MMBtu) for next year.

The group in its filing with Bursa Malaysia today said the price is RM1.01/MMBtu or 2.91 per cent lower than the current rate of RM34.66/MMBtu. 

“The government has issued a directive via the Energy Commission to effect the average natural gas selling price for the distribution segment by the group’s wholly-owned subsidiary, Gas Malaysia Energy and Services Sdn Bhd.

“The directive is for a period of two years beginning Jan 1, 2020 to Dec 31, 2021, with an annual review of such average natural gas selling price,” it said.

This selling price revision is not applicable to sales of natural gas for natural gas vehicle and liquefied petroleum gas supplied in gas cylinder or in bulk supply. 

“The selling price revision is expected to continue contributing positively towards the financial position of the company for the financial year ending Dec 31, 2020,” it added.

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