Learn from Indonesia-Singapore gas row, build up own energy resources, maritime expert tells govt

Indonesia’s recent decision to reduce natural gas exports to Singapore serves as a wake-up call for Malaysia to focus on developing its own energy resources, according to a leading maritime industry expert. R. Jeyenderan, the CEO of Maritime Network Sdn Bhd, emphasized the importance of ensuring that a country’s natural resources and energy infrastructure meet both domestic needs and long-term economic objectives.

He pointed out that Indonesia's actions were a reminder to its neighbors not to take its strategic importance for granted, urging them to examine their own operators and resources. Jeyenderan highlighted that energy security is increasingly connected to bilateral relations, especially when countries rely on cross-border supplies of critical commodities.

He urged Malaysia to take a proactive approach by enhancing its domestic energy capabilities, bolstering its infrastructure, and capitalizing on its strategic position along major international shipping routes. Specifically, he suggested that Malaysia should prioritize the development of its bunkering industry, which involves supplying fuel to ships, as a means to monetize its petroleum resources, port infrastructure, and maritime services.

This, in turn, would not only bolster Malaysia’s position as a regional hub but also help the country reap greater economic benefits from vessels passing through the region. Jeyenderan also highlighted Singapore's strategic diversification of its energy sources, including its plans to store Saudi crude oil at the Jurong Rock Caverns, to fortify its energy security.

He pointed out that this move underscores the importance of not only securing immediate energy supplies but also establishing long-term storage, logistics, and strategic partnerships. For Malaysia, this serves as a reminder of the need to strengthen ties with key energy-producing nations and entities, while simultaneously ensuring that domestic resources, infrastructure, and energy strategies align with national interests.

Jeyenderan concluded by stressing that the Indonesia-Singapore energy dispute underscores the need for regional cooperation and the importance of safeguarding relationships before a crisis unfolds.