Malaysia expects to attract energy sector investments from Singapore, Vietnam — Fadillah
15 Aug 2024
Malaysia is expected to attract new investments in the energy sector from Singapore and Vietnam, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
Fadillah, who is also the Energy Transition and Water Transformation Minister, said the potential investments will be discussed in detail during courtesy calls with Singapore Senior Minister of State for the Ministry of Trade and Industry (MTI) and Ministry of Culture, Community and Youth Low Yen Ling, dan Vietnam Deputy Minister of Industry and Trade Nguyen Hoang Long later on Thursday.
“I think the minister from Singapore intends to discuss extending the (renewable energy import from Malaysia) agreement, as the expiry date is near,” he said.
The deputy minister said that Malaysia is prepared to export an additional 100 megawatts (MW) of power, in the event Singapore’s energy supply deal with Laos falls through.
“I will also discuss focusing on the Asean Power Grid initiative next year with the ministers (from Singapore and Vietnam),” he told the media on Thursday, during his visit to Peru for the two-day Energy Ministers’ Meeting (EMM) under the Asia-Pacific Economic Cooperation (Apec) from Aug 15-16.
The Asean Power Grid is a regional initiative to improve energy connectivity among Asean member countries.
The grid focuses on integrating the electricity grids of various Asean nations to enhance energy security, promote efficient energy use, and support the development of a regional electricity market.
The goal is to facilitate cross-border electricity trade and ensure a more reliable and sustainable energy supply within the region.
Fadillah said the association’s countries can assist each other with power needs, in the spirit of the Asean community, .
“This is one of the issues I intend to discuss with our Asean partners,” he said.
Meanwhile, Fadillah also discussed possible investments in Vietnam, which has abundant wind power resources.
He said that national oil company Petroliam Nasional Bhd (Petronas) and utility company Tenaga Nasional Bhd (KL:TENAGA) are keen to invest in Vietnam’s energy sector.
“I will discuss the possibility of an undersea (power) cable from Vietnam to Kota Bahru, Kelantan. This is not only for Malaysia, but the cable can be used to supply power to Singapore and other Asean countries,” he added.
Fadillah is scheduled for courtesy calls with the Brunei’s Minister at the Prime Minister’s Office and Minister of Defence II, Pehin Halbi; and Japan’s Parliamentary Vice-Minister of Economy, Trade and Industry Nobuhiro Yoshida.
He will also attend the minister’s lunch hosted by the Ministry of Energy and Mines of Peru.
Source: Bernama
