By Datuk Noriyah Ahmad
Malaysia must address its energy security issue to support the economy towards a higher growth trajectory
The domestic energy landscape has changed considerably over the years. From being an energy-rich country a decade ago, Malaysia will soon be joining other countries that have to rely on imports to meet domestic demand.
Hence, energy security is a crucial issue that needs to be addressed to support the economy towards a higher growth trajectory. A holistic approach addressing the issues of energy supply, demand and pricing needs to be undertaken.
Prior to 1970, Malaysia imported virtually all its petroleum requirement. Following the Government’s conscious effort in the 1970s to develop petroleum resources, Malaysia has become a significant player and net exporter of petroleum products.