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LNG, he said, is one of the activities using gas as feedstock.
"We have a lot of other derivatives from gas, for example, the methanol plant is one of them.
"As such, the port will no longer be just for LNG. There are a lot of by-products out of gas," he said.
The premier said the establishing of the supply base is an appropriate approach for the state government to help in regulating activities as a result of the state's gas reserves, both offshore and onshore Sarawak.
He noted that Sarawak has about 60 per cent of Malaysia's gas reserve offshore.
"There will be a lot of activities offshore because of the gas reserve and that exploration is still going on and there could be some new areaswhere we can explore and find more reserve," he said.
He said he believes that Bintulu Port will help to leapfrog the state's economy, not only in terms of supply base, but also for the export of products produced in the state.
It was also optimistic that the port sector will be buoyed by stronger liquefied natural gas (LNG) demand in 2H24 as the northern hemisphere enters winter season and the prospective hike in tariffs.
KUALA LUMPUR (July 9): Malaysia’s liquefied natural gas (LNG) output and exports are poised for incremental growth, thanks to feed supply growth from new projects, according to BMI.
Projections indicate that Malaysia’s annual LNG production could rise to 32.5 million tonnes in 2024 from 31.3 million tonnes in 2023, the research unit of Fitch Solutions said in a statement. A key driver of the growth is the availability of feed gas for the Petroliam Nasional Bhd (Petronas) liquefaction plant in Bintulu, BMI noted.
Bintulu Port Holdings Bhd’s https://shorturl.at/nU023 net profit for the third quarter (3Q) ended Sept 30, 2023, increased to RM32.49 million from RM28.66 million in the same period last year. The group expects to remain positive and resilient in its performance for the remaining period of the year.