KUALA LUMPUR, Malaysia (July 9): For the third quarter of 2021 (3Q21), Gas Malaysia Bhd increased the average natural gas selling price for its unit Gas Malaysia Energy and Services Sdn Bhd to RM30.03 per metric million British thermal unit (MMBtu), up from RM26.85 per MMBtu in the previous quarter (2Q21). The average natural gas selling price in 2020 was RM33.65 per MMBtu, for the record.
The fixed average natural gas selling price includes the transportation tariff of RM1.19 per MMBtu, the legacy gas cost pass through of 62 sen per MMBtu, and the distribution rate of RM2.05 per MMBtu, as previously approved by the Energy Commission, according to a filing with Bursa Malaysia today.
“Gas Malaysia wishes to clarify that this price increase does not apply to natural gas for natural gas vehicles or liquefied petroleum gas provided in gas cylinders or in bulk,” it stated. “The selling price revision will continue to positively contribute to the company’s financial condition for the financial year ending December 31, 2021,” Gas Malaysia noted.
On December 18, 2020, Gas Malaysia announced that it had obtained a government mandate to determine the average natural gas selling price per quarter for a year, from January 1 to December 31, 2021.
The relevant average natural gas selling price and the natural gas selling price by tariff category for the one-year term, according to the group, will be announced only at the start of each quarter.
Gas Malaysia’s shares were unchanged at RM2.65 apiece at the noon market break, with a market capitalization of RM3.4 billion./n
