Malaysia Must Diversify Energy Sources Amid Global Volatility
Economy Minister Akmal Nasrullah Mohd Nasir emphasized the importance of diversifying Malaysia's energy sources to reduce its exposure to geopolitical shocks and volatile energy markets. He stated that disruptions around the Strait of Hormuz have shown how quickly a crisis in one region can affect global supply chains and energy prices.
Akmal noted that energy security is not just about securing sufficient oil and gas supplies, but also about resilience, the ability to absorb shocks, adapt when circumstances change, and continue to serve the economy and people despite disruptions. He said Malaysia's energy policy must balance security, affordability, and sustainability without compromising one objective for another.
The Minister pointed out that Malaysia has a relatively diversified energy mix, with natural gas accounting for 42% of total primary energy supply in 2024. However, he emphasized the need to broaden options through more diverse suppliers, technologies, infrastructure, and regional energy networks.