Regional LNG: Malaysia to ship 21.3 million tons of LNG next year: Report

Malaysia plans to ship 21.3 million tons of liquefied natural gas (LNG) next year, 1.9 percent higher than the 20.9 million tons estimated for this year, Dow Jones reported Friday quoting a the country?s annual economic report released ahead of the 2006 budget.

The data showed LNG exports rose 9.9 percent in the seven months to July while export earnings jumped 24.8 percent. The report didn't provide any values.

Malaysia also plans to export 19.9 million tons of crude oil next year, about 10% higher than this year.

In the seven months to July, crude exports fell 3.6% on year to 10.29 million tons, but oil revenue rose sharply because of record-high prices.

Record-high crude prices also drove Malaysian LNG exports and prices higher as power companies and industrial users sought alternative energy sources.

Japan and South Korea are the top markets for Malaysian LNG, while Australia, India, Thailand, South Korea and Indonesia are the top crude markets. (*)