Malaysia and Indonesia reaffirm commitment to oil and gas

ASIA PIC 2 AAL transporting two giant ‘cyclone vessels’, each weighing over 500 tonnes, to Petronas’ USD27 billion RAPID project in Malaysia.

Source: AAL Shipping

The oil and gas industry in Southeast Asia is on the brink of a significant expansion, with forecasts predicting a compound annual growth rate (CAGR) of over 4 percent from 2024 to 2029. This growth is largely fuelled by the region’s strategic transition from coal to natural gas, coupled with a surge in energy requirements and increased industrialisation.

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