Petronas Gas Bhd (PGB) expects local gas demand from the non-power sector to increase after the Covid-19 era as the local industry returns to full operation.
PGB chairman Adnan Zainol Abidin said the increase in demand would be supported by the availability of pipeline gas supply as well as imports of liquefied natural gas.
Detailed in the 2021 Integrated Report released on March 29, PGB expects gas demand to increase gradually while the use of coal plants will gradually decrease and electricity generation will be replaced by gas plants.
It is also in line with the aspirations of the banking and financier industry to strengthen a more ‘green’ investment portfolio.
According to Adnan, despite the challenging business environment due to the Covid-19 pandemic and economic uncertainty, PGB and its partners will continue to strive to deliver resilient performance in 2021 while ensuring the security of Malaysia's gas supply.
He explained that the group has successfully weathered the challenges of 2021 by generating revenue of RM5.65 billion, which is about 1% higher than the RM5.59 billion revenue in 2020.
As for future prospects, PGB will strive for sustainable development integrated in all aspects of the business value chain to ensure the company succeeds and creates long -term value for its stakeholders.
He added that PGB is optimistic to deliver a resilient performance in 2022 as it pursues the company’s growth project.
