News ID: 188825
Published: 0644 GMT March 06, 2017

Malaysia seeking to double Iran LPG imports

Malaysia seeking to double Iran LPG imports

Malaysia is expecting to increase liquefied petroleum gas (LPG) imports from Iran, said Wiratmaja Puja, the director general of oil and gas at the Energy and Mineral Resources Ministry.

The government has been exploring the option since the Chief Economic Minister Darmin Nasution’s visit to Iran in February, tempo.co reported.

He said that the government wants to double import volume from 500,000 tons to one million tons of LPG for domestic needs.

The director general confirmed that increase in LPG imports would have an impact on the amount of LPG imports from other countries, including Saudi Arabia (Saudi Aramco).

Wiratmaja added that the volume of LPG imports from traders is likely to decrease, whereas the amount of direct LPG imports will remain.

“It has been informed to Saudi Aramco [during King Salman’s visit],” Wiratmaja said. He declined to reveal Saudi Aramco’s reaction to the potential decrease in LPG imports.

Iran has been ramping up crude oil production to win back its market share since sanctions were lifted on the country under a nuclear accord.

The Islamic Republic’s assertive return to the market has undercut Saudi Arabia and other producers in many places.

 

   
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