Malaysia’s energy supplies secure ‘for decades’ after talks with Russia, deals with Turkmenistan: Anwar

Malaysia’s energy supplies secure ‘for decades’ after talks with Russia, deals with Turkmenistan: Anwar Russia has assured Malaysia of oil, gas and diesel supplies for at least the next 20 years, while Petronas signed new energy agreements with Turkmenistan. KEPALA BATAS, Penang: Russia has assured Malaysia of a supply of oil, gas and diesel for at least the next 20 years, Malaysia Prime Minister Anwar Ibrahim said on Saturday (Jun 20) after returning from visits to Russia and Turkmenistan. "President (Vladimir) Putin gave assurances through a long-term arrangement that Malaysia's supply of oil, gas and diesel will remain secure for at least the next 20 years," Anwar said during the ground-breaking ceremony of Setia Fontaines Industrial Park in Penang. “This is made possible through the friendship between our countries,” he said, as reported by news outlet The Star. Anwar and fellow Southeast Asian leaders were in Kazan, Russia for the Association of Southeast Asian Nations (ASEAN)-Russia Commemorative Summit on Jun 17 and 18. Anwar also met Putin on the sidelines of the summit to discuss energy security, oil supply cooperation, emerging technologies and other issues. Since the United States and Israel launched strikes on Iran on Feb 28, disrupting Asia’s supply of oil and gas shipped through the Strait of Hormuz, Southeast Asian countries have competed for Russian oil to ease their fuel shortages. The US and Iran signed an interim peace agreement on Jun 17. The Philippines, Malaysia, Indonesia, Vietnam and Myanmar were among countries that showed interest in buying Russian oil and gas. This was despite potential friction with allies such as the US or European countries, which support Ukraine in its war against Moscow, analysts previously told CNA. Malaysia, however, is not part of Western sanctions on Russia following the latter’s 2022 invasion of Ukraine, maintaining what it calls a policy of strategic neutrality. On Saturday, Anwar also highlighted new energy agreements inked with Turkmenistan following his visit there on Jun 18 and 19. Malaysia’s national energy firm Petronas will be involved in the development of two major gas blocks, “solidifying Malaysia's position as a respected energy player globally”, Anwar said in a Facebook post. Petronas, through its wholly owned subsidiary, Petronas Carigali (Turkmenistan) Sdn Bhd, is deepening its presence in the Caspian Sea with a production sharing agreement covering offshore blocks 19 and 20, the company said in a media release on Friday. The agreements were signed with Turkmenistan state concern Turkmennebit and state enterprise Hazarnebit. Petronas also signed a cooperation agreement on “2D seismic studies for the Northern Offshore Blocks”, it said. Anwar and Turkmenistan President Serdar Berdimuhamedov witnessed the signing. Petronas has been operating in Turkmenistan, a major global gas producer, for about 30 years, developing Block 1 in the Turkmen sector of the Caspian Sea since 1996 under a production sharing agreement. Anwar said the agreements were the result of good relations and negotiations between the two countries since Berdimuhamedov visited Malaysia in December 2024, news agency Bernama reported. Anwar said the development would secure the country’s energy needs “for decades”. “We can also use it to increase exports to partner countries, particularly China, Japan and South Korea, which have high energy demands,” he said, as reported by Bernama. Malaysia is a net energy exporter, with the state of Sarawak home to more than 60 per cent of its gas reserves.