MISC projects higher global demand for LNG
Monday, September 16 2002 - 04:42 PM WIB
MISC managing director and chief executive officer Datuk Mohd Ali Yasin, in giving the outlook for LNG in Kuala Lumpur yesterday, said the demand would come mostly from Japan, Hong Kong, China and India.
The company, which operates one of the biggest LNG tanker fleets in the world, is busy preparing to expand its market, especially in Asia where demand for LNG has grown by leaps and bounds.
"We are looking at the longer term as the demand will always be there, especially from Japan, because LNG is seen as a cheaper and safer source of fuel," Ali said after a press briefing on the 1st Asia Maritime & Logistics Conference 2002 to be held in Kuala Lumpur from Oct 14 to Oct 15.
Ali said global attention was focused on LNG as a more sensible fuel alternative following the recent report of a safety breach at Japan's largest nuclear power plant.
According to the report, the nuclear reactor along with four others are to be shut down for urgent safety checks following the discovery of an unmended crack in the shroud that covers the core reactor.
On the latest developments in the Middle East, especially the fresh threats of war against Iraq, Ali said they could be a blessing in disguise for LNG producers because the world would now look for an alternative source of fuel from Asian countries, particularly Indonesia, Brunei and Malaysia.
"I don't support the aggressive US attitude towards Iraq, but if the US were to attack Iraq, there is a question of safety in the Middle East and availability of oil, thus the need for the world to look for supplies of oil and gas in Asia instead," he said. (*)