Jo Ghani: Malaysia’s LNG exports cushioning blow of Hormuz crisis

The Strait of Hormuz disruption has impacted global energy markets, but Malaysia's status as a major net exporter of gas, particularly liquefied natural gas (LNG), has helped cushion the blow compared to countries that are more reliant on imported energy, according to Investment, Trade and Industry Minister Johari Abdul Ghani. While Malaysia remains a net importer of oil, this strategic gas export capability provides a critical buffer against the supply shocks originating from the Middle East.

The Minister emphasized that while Malaysia will experience the effects of the crisis, the impact will be less severe than on countries without significant oil and gas reserves. The ongoing tensions, exacerbated by recent provocations from the United States, have led Iran to effectively close the Strait of Hormuz, a critical artery for global energy supply, where approximately 20% of the world's oil passes through.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.